Drummonds Bank

Drummonds Branch, The Royal Bank of Scotland, 49 Charing Cross

Banker for the Royal Academy of Arts.

The Bank was founded by Scottish goldsmith Andrew Drummond in 1717. After an early specialisation in Scottish finance the bank flourished in the middle decades of the 18th century attracting a diverse clientelle. In 1760 the bank moved to its present premises on the south side of Charing Cross, London. Andrew Drummond died in 1769 and the the bank passed into the hands of three branches of the Drummond family.

The bank enjoyed a particular period of success in the late 18th century and attracted many clients heralding from the arts. Academicians with accounts at Drummonds included Thomas Gainsborough, William Chambers and John Zoffany.

Solid management meant that Drummonds survived the periodic banking crises of the 19th century, never diversifying far from its core of personal banking. In 1924 Drummond's was acquired the Royal Bank of Scotland.

Since 1992 the Royal Bank of Scotland has revived Drummond's as a specialist in private banking.
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LAW/3/303    Peter Coxe, 2 Archer Street, to Sir Thomas Lawrence    29 Jun 1821    Item