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Kleinworts was founded in 1855 by Alexander Kleinwort, although its origins may be traced to Herman Greverus, who established a business as a merchant at 3 White Hart Court, Lombard Street, in 1830. He formed a partnership with Edward Cohen in 1851 under the style Greverus and Cohen and retired in 1855, whereupon Alexander Kleinwort became Cohen's partner, and the firm was restyled Kleinwort and Cohen. Kleinwort had served an apprenticeship and gained some experience as a merchant in Hamburg before going, in 1838, to Havana, Cuba, then an international trading centre based upon its sugar, coffee and tobacco production. In Cuba he became acquainted with his future business partners, Edward Cohen and James Drake, and gained further experience as a merchant and banker. He also accumulated sufficient capital to establish business in London with Edward Cohen.
In 1858, James Drake became a partner, contributing capital and his name, but taking no part in running the partnership, which was known as Drake, Kleinwort and Cohen. He died in 1871 and the firm then became Kleinwort, Cohen and Company, with 80 % of the capital supplied by Kleinwort.
In 1881, Herman Greverus Kleinwort, Alexander's elder son, became a partner, and, in 1883, when Edward Cohen retired, Alexander's younger son, Alexander Drake Kleinwort, also became a partner, the firm being renamed Kleinwort, Sons and Company. Alexander senior died in 1886 and the business was continued by his two sons until 1907, when their nephew Herman Anton Andreae also became a partner. Alexander Drake Kleinwort was created a baronet in 1909, and Herman Greverus Kleinwort retired from active participation in the partnership in 1914.
In 1927, Sir Alexander Drake Kleinwort's two sons, Ernest Greverus Kleinwort and Cyril Hugh Kleinwort, were brought into the partnership. Sir Alexander Drake Kleinwort died in 1935. His brother Herman Greverus Kleinwort withdrew completely from the partnership in 1939 and died in 1942. In 1945 Herman Kleinwort Andreae, son of Herman Andreae, became a partner.
In 1948 the partnership became a private limited company, and in 1955 the company changed its name to Kleinworts Limited and became the holding company for a new company, Kleinwort, Sons and Company, which was created to carry on the banking business formerly conducted under the same name. In 1961 a merger with the firm of Robert Benson, Lonsdale and Company, investment bankers, created Kleinwort, Benson Limited.
The firm had offices at 3 White Hart Court, Lombard Street, 1830-54; 4 Cullum Street, 1855-9; 7 Mincing Lane, 1859-66; and 20 Fenchurch Street from 1867. It is variously described in London directories as merchants; merchants and foreign bankers; and bankers and commission merchants.