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The presence of Martins Bank on the Isle of Man is down to the amalgamation in 1928 of the Bank of Liverpool and Martins and the Lancashire and Yorkshire Bank.  It was the Lancashire and Yorkshire Bank that inherited a total of six offices across the island from its acquisition of the Mercantile Bank of Lancashire, who had in turn inherited them from taking over the Manx Bank.   Effectively “offshore”, both the Isle of Man and the Channel Islands are good homes for the services provided by Trust Company, and Martins Bank Trustee and Investment Company (Isle of Man) Limited offers a comprehensive range of products for investors who put their money into the Island. 

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1956 Douglas Exterior 24FEB56 3 CU BGA Ref 30-481

Branch Images © Barclays Ref: 0030/0481

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Although Martins’ expertise as a provider of executor and trustee services goes back decades, the overall service offered by Trust Company evolves and diversifies right up to the merger with Barclays.  The result is such a well run and importantly well-trusted company that is unmatched by Barclays, who are therefore delighted to take it on board in 1969.  Martins Bank Magazine writes about only a few of Martins’ Trust Company offices around the country, and although there was no look at the most up to date aspects of Trustee and investment work on the Isle of Man, the following paragraph from a visit to Douglas in 1950 explains some of the early complexities in running the service under what is effectively a foreign government:

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1950 03 MBM.jpgDouglas branch is unique in several respects; first because the note issue of the Bank, the rights of which were acquired when the amalgamation with the Lancashire and Yorkshire Bank took place, is managed from there and every note has to be recorded from the time of its issue until it is destroyed. Secondly, owing to the existence of Manx laws which are not recognised in England, and vice versa, all the Bank's Trustee business in the Island has to be administered through the manager of the branch instead of direct with the Trustee Department, and for the same reason and resulting transfer difficulties, the branch issues its own Trust Certificates in exchange for 3½% War Stock and keeps its own Trust Register, virtually maintaining in this and the Note Department two departments like Bank of England departments on a tiny scale, adding considerably to the normal work of the branch.

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Manx Quartet

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Some of this extra work is (rather sadly) removed in 1961, when a change in Manx Law removes the right of Martins and other banks to issue their own banknotes on the island. At the moment we have no staff images or staff listed as working for Martins Bank Executor and Trustee Company (Isle of Man) Limited, so If you can help with images and/or information about this or any of our other branches, please do get in touch with us at the usual address gutinfo@btinternet.com.

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Name:

Type:

Address:

Hours:

 

Telephone:

Manager:

Martins Bank Executor and Trustee Company (Isle of Man) Limited

Executor Trustee and income Tax Department

45 Victoria Street Douglas Isle of Man

Mon to Fri 1000-1500

No Saturday Service

Douglas 4218/9

Not Known

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