City banks buy years of London's history in the sale of the centuries at the Museum of London

15 October 2007

Two prominent City Banks, C. Hoare & Co and N M Rothschild and Sons Limited, have each bought a year of London’s history to celebrate the years they were founded.

They have made their purchase in an imaginative scheme set up by the Museum of London to raise funds for its £18 million redevelopment.

For £5,000, businesses can name a year of London’s history to celebrate their foundation, flotation or financial successes. Their contributions will be acknowledged by plaques on a timeline on display in the new galleries, which will set their achievements against the events of the period. Over 300 years of the capital's history, from 1666, the year of the Great Fire, to 2012, the year of the Olympic games, are up for grabs and on sale now.

C. Hoare & Co, the oldest independent private bank in the UK, was founded in 1672 by Richard Hoare, who later became Lord Mayor of London. Richard Hoare, a goldsmith, opened his bank at the sign of the Golden Bottle, in Cheapside.

Relaxation of the Usury laws meant that banking was in a position to develop and London's goldsmiths, who had always provided safe storage for cash and valuables, were able to introduce paper money and cheques and lend their customers money for interest. Famous customers include Catherine of Braganza, Samuel Pepys, David Garrick, Jane Austen and Lord Byron. The bank is still owned by the Hoare family.

N M Rothschild and Sons Limited have bought the year 1809, the year Nathan Mayer Rothschild established the family banking business in London. Within a few years, his boldness and acumen had transformed the banking system. His family connections all over Europe enabled N M Rothschild and Sons Limited to play a leading role in the Napoleonic wars, organising the movement of supplies of gold to Wellington's armies on the Spanish front and receiving news of the victory at Waterloo 24 hours before the British Government.

A spokesman for Rothschild adds,

'The opening of the new galleries coincides with an important milestone in the history of Rothschild in London: in 2009 Rothschild will celebrate 200 years in St Swithin’s Lane.  As the bank begins its third century on this site, we look forward to playing our role in the future of this major international financial centre.'

Opening in 2009, the project will transform the lower floor of the Museum of London to tell the story of the city over the last 300 years through the lives of Londoners – those born in London, working here, or who have moved here – all who think of London as their city.

The new displays will contain more objects than ever, like Nelson's jewel encrusted sword, Suffragette banners and an Ozwald Boateng suit. The scheme will also see the development of the new Clore Learning Centre, providing flexible and inspiring spaces for learners of all ages, an e-learning suite, object handling areas, a theatre and The Sackler Hall containing an information zone and coffee point.

Professor Jack Lohman, Director of the Museum of London says,

'We are delighted  that these two prominent City banks are supporting the re-development of the Museum, helping us to literally  ‘make history’. The 70,000 schoolchildren who visit the Museum each year and the many City workers who drop in during their lunch breaks will find the Museum transformed with exciting new displays containing double the number of objects to intrigue them.

In 2009, people passing our distinctive roundabout will see the Lord Mayor’s coach on show in all its glory in a new gallery with a glass frontage looking out onto London Wall at street level.'

With its sale of years of London’s history the Museum hopes to raise the final £1.5 million needed to complete the project. The Heritage Lottery Fund has already pledged £11.5 million towards the project and the campaign has also attracted support from a variety of philanthropists, corporate contacts, trusts, foundations and individuals.

This unique campaign 'selling' twentieth century years offers the chance to mark memorable events within living memory, like the end of World war II, the Coronation, England's 1966 World Cup win, or family birthdays and anniversaries.

For more information see www.museumoflondon.org.uk/buyayear or call 020 7814 5592.

Press enquiries

Marian Williams
tel: 020 7814 5502
email mwilliams@museumoflondon.org.uk

Notes for editors

• Museum of London, 150 London Wall, EC2Y 5HN. www.museumoflondon.org.uk, tel 0870  444 3851
• Admission is free.
• The redevelopment, which is the largest the Museum has seen since opening in 1976, will revitalize the galleries, with an innovative design by Wilkinson Eyre architects. The project includes a small expansion of floor space (5%), but will see an increase of 25% in display and learning areas, maximising the use made of public areas. The new galleries will open in autumn 2009 with significantly increased access to the Museum’s objects, both in the galleries and online, and will also include the new Clore Learning Centre, a theatre and The Sackler Hall containing an information zone and coffee point.
• The work started in March 2007 and will be completed in 2009. There are no plans to close the Museum during the refurbishment work: visitors will continue to be able to explore the city's earlier history, from prehistoric times, through the Roman and Medieval periods, to a special display on the Great Fire. A full programme of activities and events for all ages, bringing London's past and present to life, will continue.
• The Museum's redevelopment is being supported by the Heritage Lottery Fund which has pledged £11.5 million towards the project.  The campaign has also attracted support from a variety of philanthropists, corporate contacts, trusts, foundations and individuals.  They include the Clore Duffield Foundation, the Fidelity Foundation, the Rayne Foundation, the Weston Foundation, the DCMS/Wolfson Foundation, the City of London Corporation, the London Development Agency, Lloyds of London, Johnson Matthey plc, Ashurst, the John Lewis Partnership and Royal Mail, BT and many additional generous anonymous supporters.
• The Heritage Lottery Fund (HLF) enables communities to celebrate, look after and learn more about our diverse heritage. From our great museums and historic buildings to local parks and beauty spots or recording and celebrating traditions, customs and history, HLF grants open up our nation’s heritage for everyone to enjoy. HLF has supported more than 18,000 projects, allocating £3.5billion across the UK. Website: www.hlf.org.uk. For more information, please call Katie Owen at the HLF press office on 020 7591 6036.