Brown, Shipley and Co Ltd , merchant bankers

Brown, Shipley and Company, merchant bankers, of Founders' Court, Lothbury, originated with the establishment of William Brown and Company, merchants and shippers, in Liverpool in 1810, by William Brown. In 1814 William was joined by his brother James to form William and James Brown and Company. Joseph Shipley became a partner in 1825 and in 1837 the company changed its name to Brown, Shipley and Company. Although originally formed to act as agents for the American business interests of Alexander Brown (William and James' father), the company soon became involved in the exchange and credit business. Its merchant banking interests developed rapidly and by 1860 had become more important than its mercantile and shipping interests. Consequently a London office was opened at Founders' Court, Lothbury, in 1863, where the company has remained ever since. It changed its name to Brown, Shipley and Company Limited upon incorporation in 1946. The Liverpool office was closed in 1888. The surviving archive of the London office dates from 1864.

Until 1914 the company was a branch of the American company Brown Brothers and Company, and partners were individually members of both the American and English companies. In 1914 the articles of association were changed so that each company became a partner in the other. This arrangement became impossible after the Registration of Business Names Act became law in 1916 in England, and new taxation laws became effective in the United States, so on January 1st 1918 Brown, Shipley and Company withdrew from Brown Brothers and Company, and the latter withdrew from Brown, Shipley; but they continued to work in close co-operation as correspondents and agents.

In April 1900 the company opened an office at 123 Pall Mall to deal primarily with letters of credit for American travellers. Records of this branch are catalogued as Ms 20151-153 (CLC/B/032-02). The decline in the issue of letters of credit due to the growth in the use of travellers cheques led to the closure of the branch in 1955.