Moss and Co (later North Western Bank)

Moss and Co was established in Liverpool in 1807, later becoming the North Western Bank. It was acquired by Midland Bank (now HSBC UK) in 1901. Midland was acquired by HSBC Holdings plc in 1992.

The private banking firm was opened as Moss, Dales and Rogers at 4 Exchange Buildings in Liverpool. Business reflected the city's commercial focus with corn, tobacco and cotton merchants among the early customers. John Moss was only in his mid-twenties when he started the new bank. He had been born in Liverpool and joined his father's merchant firm as a young man. The family's wealth was already partly derived from transatlantic slave-trading and John Moss continued to profit from slavery whilst running the bank. In 1820, for example, he and his brother inherited 1,000 enslaved people in the Bahamas from their uncle. He went on to play a major role in the emerging railway sector and was the first chairman of the Liverpool and Manchester Railway.

In 1811, the bank moved to purpose-built premises in Dale Street, and after a number of partnership changes it became known simply as Moss and Co in 1826. Following a run of successful decades, profits dipped in the wake of the 1860s cotton famine and additional capital was required. The partnership converted into a shareholder-owned joint stock bank in 1864 and took on the new name of North Western Bank. The 1880s saw the start of a branch network developing in and around Liverpool. In 1897 the firm was acquired by London and Midland Bank at a cost of GBP580,000.

We are continuing to investigate John Moss, in order to deepen our understanding of this bank and its links to the slave trade.

Our long history has been enriched by the acquisition of companies that reach even further back in time. There is much we can be proud of in this combined heritage but some aspects of our past are wholly inconsistent with our values. Today HSBC is committed to learning from the diverse experiences and voices that help us to create opportunities, innovate and grow. Inclusion is at the core of who we are today. We are committed to building a more inclusive world.

Further reading: 'A Hundred Years of Joint Stock Banking' by J. E. Wadsworth and W. F. Crick (Hodder & Stoughton, 1936); 'John Moss of Otterspool (1782-1858): Railway Pioneer - Slave Owner – Banker' by Graham Trust (AuthorHouse UK, 2010).