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A
decision that is “not taken lightly”…
“The
decision, which this bank finally took earlier this year, to seek bids for
its shares, was not taken lightly or without deep prior consideration. From
the point of view not least of the Board and the senior management the
decision was in some ways a sad one. It was not necessitated by any
short-term considerations but arose solely from the Board’s appreciation that
in the long-term the national interest and the interests of customers, staff
and share-holders alike would be best served were the Bank to become part of
a larger financial unit. In such circumstances the Board felt it only right
to set in motion the machinery which it did with a view to achieving the most
satisfactory possible merger at a time when the Bank's position and resources
still made it attractive to other of the larger British banks. Before taking
steps to achieve this object the Bank consulted the Governor of the Bank of England
who concurred with the procedure which we proposed to adopt.
Broadly,
the considerations which influenced us arose out of the increasing need for greater
scale in financial units. Larger funds, a wider geographical spread,
nationally and internationally, and the undertaking of a greater range of
specialist activities are increasingly important in modem banking. While
Martins has a valuable contribution to make to a larger financial unit, it is
probably not large enough, standing by itself, to compete effectively in the
long run nor could it achieve the necessary size by direct expansion within
its own available resources”… |
Image and Text © Barclays Ref 0482/0436
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From this point on, things will move
quickly – a proposed merger of Barclays, Lloyds and Martins Banks, whilst thoroughly
researched and feasible, is turned down by the Monopolies Commission, who
prefer a merger on a smaller scale. Eight months after announcing its
decision to seek a buyer, Martins reaches the first important date in its
irrevocable marriage to Barclays, 1 November 1968. This leaves just thirteen
months in which both Banks will have to compare Branches and services, so
that the best of each can be retained for the combined business. There is
also the task of informing the customers of both Banks not only about the
merger itself, but also of the perceived benefits… |
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Are you sitting comfortably? Then we’ll begin…
Moral: Marriage is to politics what the lever is to engineering. The
state is not founded upon single individuals But
upon couples and groups. Novalis
Text and Images ©
Barclays 1968
Special Note from the Editor
To many, a fundamental promise – that the
name of Martins Bank will live on – is broken even before the act of
Parliament that brings about the new Bank. The token gesture “Martins Branch”
which appears on some Barclays stationery until the early 1980s is also not
enough to calm the genuine anger and hurt. As an observer who never worked
for Martins, and given that time is usually such a great healer, I am
genuinely shocked and saddened by the comments we regularly receive on this
matter, and I completely understand and sympathise with those who thought one
thing, but witnessed another. With a brand as successful as Barclays, there is never any
real doubt that the name of Martins will have
to disappear, and the campaign to wipe Martins from the memory is, in its own
way, as sophisticated as any seen today when major companies are brought
together. Thanks however to the “Martins Branch” logo, the changes do at
least take until 1982 to fully complete, and the legacy of Martins’ own
“Branch Accounting” computer program remains with Barclays until at least
2005. The articles in this section look at the various parts of the process
of subtle change that go into what Barclays refers to as “The end of the
beginning”, but which many, from the outset, see as the exact opposite… Jonathan,
May 2013 1967/8 – A Merger is announced…
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Talks between the two banks about amalgamation of their overseas
business have proceeded extremely well, says Mr. A. R. W. Wetherell, Chief Overseas
Manager of Martins. Discussions have been carried on in a cordial and
co-operative atmosphere. Although it is too early to state precisely the
changes that will come about, the prospects for working together in fields
wider than Martins has known before are 'intriguing and exciting', Mr.
Wetherell said. |
The two banks have formed a Coordinating Team, whose job will be
to work out a time-scale for the coordination of the businesses. The team
will work within policy lines set down by the General Managements of the
banks. Martins' representative in the team is Mr. A. K. Bromley
(Assistant General Manager). His colleagues from Barclays will be Mr. R. J.
H. Gillman (Secretary) who will be the team's chairman, and Mr. K. A. Ebbs
and Mr. J. G. Quinton (Assistant General Managers) |
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He continued in the Trustee Department after war service, first
at Birmingham and then at Bournemouth, returning in 1954 to the City Trustee
Office as Manager. Two years later he became Deputy Manager of all Barclays'
Trustee Departments.
He left the Trustee side in 1957 to be Deputy Chief
Accountant from which post he became an Assistant General Manager in 1960 and
a General Manager the following year. He has been senior General Manager
since 1966. Mr. Wilde is married and lives
at Penshurst, Kent
... music, drama For those whose talents are singing, acting or playing a musical
instrument there are Barclays Bank's Dramatic, Musical and Operatic Societies,
all of which stage regular productions in London. This November the talents
of these three bodies will combine to present a Festival Entertainment to
celebrate the opening of the bank's sumptuous new Great Hall in the 54
Lombard Street Head Office. The occasion will also be taken to hold the sixth
Triennial Art Exhibition and a photographic show. Another body which Barclays
Bank staff are welcome to join is the Barclays D.C.O. Horticultural Society
which presents regular exhibitions at Goodenough House in the City of London.
Building
projects shelved The bank's building programme is one sphere greatly affected by
the merger situation. Work already well advanced is going ahead but several
projects have been shelved. No action is being taken over sites acquired for
new premises until a policy for the new group is decided. Even at one branch
virtually completed the merger has raised a complication—whether or not to drill holes in an expensive piece of granite
to take the name 'Martins Bank'. The solution has been to fix the letters in
a less permanent way. Adapting
branch systems Among the staff there are many who feel they will be at a
disadvantage until both banks are operating common systems. Already a
committee has been set up 'to consider branch book-keeping systems and other
procedures' and much information about their systems has been exchanged by
the two banks. The widespread
attitude of the staff to the merger is: 'If there is to be change, the sooner
it comes the better’… Customers'
fear Foremost in customers' minds has been the fear that the
engulfing of Martins by the huge Barclays' organisation will mean an end to
the personal service they value so much. Managers have been quick to reassure
their customers that the same individual service, backed by a local District
Office, will remain. In fact, the wider facilities of the merged bank will
mean an enhanced service.Concern or sorrow at the disappearance of a small,
independent bank has been expressed by many customers. At the same time they
accept that a merger was inevitable and that their feelings are based mainly
on sentiment. While formal talks between the banks have continued at General
Management and department-head levels, some managers and District officials
have met their Barclays counterparts informally. Local directors of Barclays
Bank have called at several of our branches to make themselves known.
1968 - An editorial Change?
In Winter 1967 the staff magazine logo is, as it has been for much of the sixties, simple, clean and still indicative of the independence of the bank. The next edition of the magazine will bring complete change, along with a more subliminal conversion of the staff themselves.
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1968
- Two sides to the story…
Bank people are
secretive. They need to be: secrecy is part of a bank's stock-in-trade. Yet
how easy it is for this banking virtue to creep so unfortunately and so
unnecessarily into the sphere of staff communications. Never was it more
important, now that the Bank is to merge its interests with those of
Barclays, that there should be frank and open exchanges of information at all
levels within this Bank. Never was it more vital that the proverbial
grapevine should not be allowed by needless rumour and counter-rumour to
assume the proportions of an oak tree. For these reasons we
welcome wholeheartedly the Bank's decision to introduce and circulate to
every member of the staff the news-sheet, Merger News. By appearing at frequent intervals Merger News will go some way
towards lifting the veil of needless secrecy and keeping the staff— and their
families—informed. The complete removal of that veil remains a task calling
for conscious effort by every one of us.
Committees are sitting,
pilot schemes are afoot, systems are under investigation. All reflect the loss,
after 137 years, of the independence of Martins Bank. As a mother weeps at
her daughter's wedding it would be easy to shed tears at the events of recent
months—until we remember not to confuse sentiment with sentimentality.
After all, Martins is itself an amalgam of a dozen or more smaller banks and
what we think of as the personality of Martins Bank is nothing more than a
fusion of the character of each of those acquired banks. But can we speak of a
bank having character or personality? Is it not the generations of bank
people, from clerks to general managers, who, through a singleness of
purpose, have impressed a collective personality on their bank? And if,
through their staffs, those constituent banks of Martins have added something
to the combined bank, is this not the time to think what we, the staff of
Martins, are capable of contributing to the Barclays Group? Any means of getting to
know our colleagues in Barclays is welcome and Barclays Bulletin, the quarterly newspaper of the Barclays
Group which is now being sent to every member of our staff, is one such
medium. As, however, it will be a little while before integration affects the
majority of our staff Martins Bank
Magazine will continue to appear throughout 1969.
Winter 1968 – Barclays Bulletin…
News of Barclays’ newest wholly owned subsidiary is
communicated to the staff of both Banks shortly after the key date of 1
November 1968 – this is when Martins Shares become officially those of
Barclays. “Barclays Bulletin” provides a detailed look at what should be
happening next…
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MARTINS Bank is now a wholly-owned subsidiary of Barclays Bank and
new Barclays' shares and Loan Stock have been allotted to the former
shareholders of Martins under the terms of the Scheme of Arrangement for the
merger of the two companies. Martins will continue to trade in its own name
for the time being as a member of the Barclays Group, but in order to obtain
full benefit from the merger it is planned that the two banks should become
one by 1970. |
SEE ALSO |
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This will be achieved by means of a private Act of Parliament,
which it is hoped will receive Assent about the middle of next year, and
become effective on or before January 1, 1970. Meanwhile several measures are
being taken to help pave the way to complete integration. They include: The appointment of two Directors from each bank to serve also on
the Board of the other. Mr. W. G. Bryan and Mr. A. L. Grant will serve on the
Board of Martins, and Sir Cuthbert Clegg and Mr. J. H. Keswick join the Board
of Barclays. A Co-ordinating Team has been formed consisting of three
Barclays representatives, Mr. R. J. H. Gillman (Secretary) and Mr. K. A. Ebbs
and Mr. J. G. Quinton (Assistant General Managers), and Mr. A. K. Bromley
(Assistant General Manager of Martins). Working parties have been set up to harmonise the systems,
procedures and stationery of the two banks, and alterations will be
introduced gradually. Some Head Office Departments are to be brought together almost
immediately. It is planned to conduct the executor, trustee, income tax, new
issue, registration and unit trust work of the combined banks through Martins
Bank Trust Company Ltd., which will be renamed. Control of some
Martins branches will shortly be transferred to Barclays. A pilot scheme will
begin this month in some Barclays Districts where only a few Martins branches
are situated. It is hoped that the experience gained will enable the scheme
to be extended throughout the rest of the country during 1969. Eventually the present
Barclays Local Head Offices, with one addition, will control all the branches
of the combined bank. A new Local Head
Office will be established in Preston, controlling all branches in
Cumberland (with the exception of Martins, Alston), Westmorland and Lancashire
north of a line drawn south of Lytham, Leyland, Chorley, Darwen, Accrington
and Burnley, and Martins, Bentham. The Welsh branches at present under Liverpool Local Head Office
will be transferred to the control of Shrewsbury L.H.O. The situation in
London is still being considered and there may be minor boundary changes
elsewhere, but the policy is that Martins branches will come under the Local
Head Office in whose District they are situated. Chairman's Message Mr. John Thomson, Chairman
of Barclays Bank Limited, stresses that the objective is the creation of a
single, integrated organisation with equal opportunities for all. Mr. Thomson
writes: “The merger of Martins with Barclays is an event of great significance
in our histories and I extend a warm welcome to Martins Bank and every member
of its staff on behalf of the Barclays Group. At the same time I would like
to try and answer some of the questions which must be uppermost in your
minds. This has been the ‘year of the merger’ for British industry, and our
own merger is part of the general drive for increased efficiency through the
creation of larger, more economic units. At the same time we are, in order to
reap the full benefits of the merger, taking a fresh look at our organisational
structure. “Some training in
different systems and routines will be necessary, but I am confident that
this will not present a serious problem and that we can move smoothly towards
integrated systems common to all staff. 'Obviously some of you will be
wondering whether you will have to move as a result of the merger. So far as
branch staff are concerned, there will be little or no change in the existing
standards of mobility. In other cases moves will be kept to a minimum, and
adequate notice will be given to those concerned. Finally, a word about
promotion prospects. No member of the staff of either bank need feel that his
or her abilities will be neglected. The two Staff Departments are now working
in close liaison in order to ensure that the staff of both banks are
henceforth treated as one for the purpose of promotion. There will therefore
be equal opportunities for all, with a unified structure for recruitment and
training. A merger inevitably means change -but there can be no progress without
it. Fortunately both Barclays and Martins have similar traditions, structures
and philosophies and I am confident that with patience, understanding and
co-operation, the adjustments can be achieved smoothly and painlessly”.
June 1969 - On the books at last…
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In Barclays’ half
year accounts for 1969, its subsidiaries, including Martins are listed under assets.
Martins is worth a cool £56.5million, more than fifteen times the value of
The British Linen Bank, and more than twice that of Barclays’ successful
Dominion and Colonial arm. Acquiring Martins strengthens Barclays’ position
in England and Wales, control of the British Linen Bank gives Barclays a good
foothold in Scotland. Barclays also has ties with The Bank of Scotland and
the Royal Bank of Scotland (formerly Williams and Glyn Bank) which will last
well into the 1980s.
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1969 – Spread Eagle - End of the beginning?
Just as Martins Bank Magazine itself caters for the staff
of LEWIS’S BANK, following Martins’ acquisition of their branches, Barclays’
‘Spread Eagle’ magazine must now begin to welcome colleagues from Martins.
The difference of course, is that Lewis’s Bank, whilst under the ownership of
Martins always kept its name and style of operations. It is no exaggeration
to state that Martins Bank Magazine has been cherished by uge numbers of the
Staff of martins Bank. Born out of the Wartime Lifeline Newsletters, nothing
shows better the true family spitir of the Bank. Spread Eagle is a similar
publication to Martins Bank Magazine, in that it too makes the most of
everyday stories about the staff of the Bank, and keeps everyone informed as
the world of banking changes. Sport, amateur dramatics, fashion, the usual
stuff… The Staff of Martins are introduced to Spread Eagle in a feature in
the final full edition of their own Magazine in the Autumn of 1969. By this
time, much of Martins has been absorbed into Barclays, all that remains is
for the 700+ Branches and Subbranches of the Bank to be officially handed
over on the Appointed Date, 15 December 1969. As the merger itself progresses,
Barclays prints what is meant to be a reassuring customer leaflet, the
slightly patronising text proclaiming that the situation is in fact simply
nothing worse than “the end of the beginning”. What is abundantly obvious
from the leaflet, as shown below, is that against the wishes of Martins’
Staff and customers, the name of the new bank will be Barclays and
ONLY Barclays, and this is therefore, the beginning of the end… |
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BARCLAYS BANK MARTINS BANK
June
1969 - Game, set, and match.
Amongst the treasures inherited by Barclays, is the sub
branch on the Centre Court at the All England Tennis Club, Wimbledon, SW19.
Martins advertises this special service in the official Wimbledon souvenir
programme each year. The following examples show the change from 1961 to 1969
when the merger becomes part of the message…
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December
1969 - It’s a sign of the times…
Martins’ glory days are fantastic. From making the
outrageously bold statement of building a palatial head office completely
away from London in the 1930s, to opening dozens of modern new branches
finished to exacting standards and built from the most expensive materials in
the 1960s, Martins has made a big splash in the ocean of banking, and all
this in the days when banks, in return for responsible lending and financial
management, are rewarded with the trust and loyalty of their customers.
This has been a time when Martins has opened many new branches, and shown that it is in touch – not only with the youth of the day, but also with individual areas of the country and their banking needs. Its regional structure, based on local decision making and Managers who know their towns, villages and people inside out, are what we are crying out for in the twenty-first century.
Despite the views of many that the merger is nothing more
than a takeover, Martins does actually have some influence over the future of
the combined business. In total Barclays will acquire just shy of 700
Branches and sub Branches. The business of Martins Bank Trust Company Limited
is also a highly desirable prize, and it remains the view of many who worked
for the Company, that it was Martins who effectively took over Barclays’ interests
in the same field. Looking at the overall network of Branches and
Departments, and in the North of England in particular, Barclays will gain
dozens of Branches that are newer, larger or better placed than existing
Barclays offices. A number of Barclays outlets will actually close in favour
of their Martins counterpart being used. These are identified in a Merger
Report issued on 15 December 1969 – the date by which the two Banks’
businesses must by law be brought fully together. We list here the details
from that report, of the Barclays Branches that had to fall on their sword,
either by closing altogether or by being downgraded to sub-Branch status…
A good innings at Old trafford?
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1.
Proud and beautifully appointed: The Lancashire and Yorkshire
Bank Branch at old Trafford, seen here in 1922, with six years still to go
before it merges with Martins. 2.
In the 1960s we can only guess which famous sporting types
might be popping in to cash a cheque before taking part in a cricket or
football match. 3.
Finally, in 2006 the same branch is seen empty and frozen
in time. A reminder of better times, when famous sporting types popped in to
Old Trafford to cash a cheque. |
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1970 to 1982 - Memorabilia…
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Martins green is replaced by Barclays blue
in what is almost the last giveaway to feature the Martins grasshopper. The
Barclaytrust matchbook is given away to customers of Barclays Bank Trust
Company, which can now boast the expertise, products and profitability of
Martins Bank’s Trustee and Income Tax offices and Martins Unicorn, the jewel
in the crown of our Bank’s services to investors. This piece of treasure will
pay the bills at Barclays for decades to come, and undergo several revamps
and name changes before becoming the Barclays Wealth we know today…
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All
good things must come to an end…
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The doorway at
King’s Lynn is slightly recessed. Consequently the doors have
remained sheltered from the
elements. |
The doors might be shut forever, but the
once mighty prescence of Martins is still felt all over England and Wales. At
103a High street KING’S LYNN, (2008 left) the Martins building is now
a chic fashion outlet. Ironically, having closed its branch there, Barclays
went on to swallow up The Woolwich and acquired premises only four doors down
at No 107! At Barclays the Headrow, Leeds (2007),and
Heaton Chapel (2000) below, the unmistakable coat of arms reminds everyone
that this too is the home of the bank that went to extremes to be
helpful…
Pictures © : www.yorkshiredailyphoto.com
and Michael
Alderson |
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Farewell
to Martins Bank Magazine…
The final edition of Martins Bank Magazine is the Winter
1969 commemorative issue, which looks back at hightlights of the twenty four years – and therefore 96 issues – of the
magazine’s existence. The fawewell issue begins with this letter from
Martins’ Chief General Manager…
The song has ended, but
the melody lingers on…
The important of Martins Bank’s Operatic and Dramatic
Society, and its various regional offshoots, is recognised by Barclays, and
under the auspices of Barclays Bank Society of the Arts, “Martins Operatic
Society” ( minus the word “BANK”) continues to stage lavish and sophisticated
productions beyond the merger, until its own eventual demise in 1980.
Goodbye everybody… x
BOARDROOM BLUES The last
ever meeting of Martins Board, 9 December 1969…
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