Two of the UK’s biggest companies have pledged to pay large sums to black, Asian and minority ethnic (BAME) communities after their roles in the slave trade were highlighted in a major academic database.
Greene King, one of the UK’s largest pub chains, and Lloyd’s of London, one of the world’s biggest insurance firms, both said they would make payments.
The payments mark the first time the controversy over the UK’s past involvement with slavery, which has led to statues being torn down, has impacted the corporate sector.
Greene King was founded in the early 19th century by Benjamin Greene, one of 47,000 people who benefited from the UK Government’s decision to compensate Britons when slavery was abolished in 1833.
Greene received nearly £500,000 in today’s money when he surrendered rights to three plantations in the West Indies.
Details of the sums are set out in a comprehensive database held by University College London (UCL).
However, Greene King does not mention its past links to slavery on its company website, although they were set out in a 1983 book about the Suffolk firm’s history.
On Wednesday night, Nick Mackenzie, Greene King’s chief executive, told The Telegraph the company would update the website on Thursday and offered an unqualified apology.
He said: “It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s. We don’t have all the answers, so that is why we are taking time to listen and learn from all the voices, including our team members and charity partners, as we strengthen our diversity and inclusion work.”
He added that Greene King would make a “substantial investment to benefit the BAME community and support our race diversity in the business as we increase our focus on targeted work in this area.”
The database showed that Simon Fraser, a founder subscriber member of insurer Lloyd’s of London, was paid nearly £400,000 in today’s money to surrender an estate in Dominica.
A Lloyd’s spokesman said on Wednesday: “We are sorry for the role played by the Lloyd’s market in the 18th and 19th century slave trade. This was an appalling and shameful period of English history, as well as our own, and we condemn the indefensible wrongdoing that occurred during this period.
“We will provide financial support to charities and organisations promoting opportunity and inclusion for black and minority ethnic groups.”
Lloyd’s also said it would now review its “organisational artefacts, to ensure that they are explicitly non-racist”.
Greene King and Lloyd’s were two of nine UK businesses – several of them high street banks – that benefited directly or indirectly from the compensation, according to the UCL database.
On Wednesday night, pressure was growing on the other companies shown to have links to slavery in the database to make some form of payment to BAME groups.
Royal Bank of Scotland, Barclays Bank, HSBC and Lloyds Banking Group were among a number found to have benefited directly or indirectly from the slavery payments.
In the case of RBS, it conceded in a report in 2009 that individuals “who were partners or directors of RBSG [Royal Bank of Scotland Group] predecessors may have owned slaves themselves or been otherwise directly connected to slave enterprises in the British West Indies.
“There is also evidence that other partners of RBSG predecessors may have been part owners of ships involved in slave trading voyages during the 18th and 19th centuries.”
RBS hinted on Wednesday night that it would make a similar donation, telling The Telegraph it would “look at what more we can do as a bank and this includes looking at making contributions to BAME groups”.
Layla Moran, a challenger for the Liberal Democrat leadership, said she would be writing to the bosses of companies highlighted in the UCL database, urging them to make donations to BAME causes.
She said: “No one can change the past – but these businesses can step up now and help to build a better, more inclusive future.
“I’m pleased to see some companies acknowledging this and responding to donation calls. I urge others to follow suit.”
The companies in Britain linked to the slave trade – and what they say today
Greene King
How Greene King is linked to the slave trade:
Brewery founder Benjamin Greene is listed on the UCL database as the sole claimant over three estates, one in Montserrat and two in St Kitts, both in the Caribbean. He was awarded compensation worth £483,308 in today’s money when forced by Parliament to surrender them.
What Greene King says today:
Nick Mackenzie, the Greene King chief executive, said: “It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s. We plan to make a substantial investment to benefit the BAME community and support race diversity in the business as we increase our focus on targeted work in this area.”
RBS
How RBS is linked to the slave trade:
An internal company report by RBS in 2009 found evidence that individuals “who were partners or directors of RBSG predecessors may have owned slaves themselves or been otherwise directly connected to slave enterprises in the British West Indies”. In all, a total of 18 former companies associated with RBS have links to claimants or beneficiaries in the UCL database.
Two partners in Smith, Payne and Smith, which later became part of RBS, are listed as being claimants or beneficiaries from the fund. The 2009 RBS report says that in 1836 “the bank received its share (three-eighths) of the compensation for the 406 slaves” on a plantation.
What RBS says today:
A spokesman said: “As an organisation with a history stretching back more than 300 years, it is inevitable that these important and painful issues have a place in our history. We recognise our responsibility to engage with that.
“Over the past 15 years, RBS Group has been aware of these issues and has looked into its past links with slavery very extensively and thoroughly, using both its own archives and the growing body of research materials available externally to understand and document the connections. We have a substantial role to play in tackling those inequalities, and have recently set up a taskforce which will look at what more we can do as a bank.”
Lloyds Banking Group
How Lloyds Banking Group is linked to the slave trade:
John White Cater, a president of London and Brazilian Bank, which later became part of Lloyds Banking Group, received compensation for five claims relating to estates in Jamaica. A total of eight former companies associated with Lloyds have links to claimants or beneficiaries in the UCL database.
What Lloyds Banking Group says today:
A Lloyds Banking Group spokesman said: “A lot has changed during the 300-year history of our brands and, while we have much within our heritage to be proud of, we can’t be proud of it all. Like any institution that is so interwoven with our country’s history, we must acknowledge and learn from our past.
“We stand against racism, slavery and discrimination in all its forms and truly believe that, by reflecting, understanding, promoting and valuing the diversity of our colleagues, we will deliver better results for our colleagues and customers.”
RSA Insurance
How RSA Insurance is linked to the slave trade:
Five company directors and a governor of London Assurance, which was merged into Sun Insurance in 1959 and eventually RSA Insurance in 2008, are named as claimants or beneficiaries. In total, five former companies associated with RSA have links to claimants or beneficiaries in the UCL database.
What RSA Insurance says today:
A spokesman said: “RSA’s origins in insurance date back well over 300 years, with many parts of our business founded in the 17th and 18th centuries. While this has brought positive things that have shaped us, there are aspects of that history that don’t reflect the values we hold today.
“We will continue to work with our employees to tackle racism and other injustices wherever we encounter them through our actions.”
Lloyds of London
How Lloyds of London is linked to the slave trade:
One founder subscriber and one former chairman of Lloyds of London are listed as claimants or beneficiaries in the UCL database, and four others are listed as having links to estates. They include founder subscriber Simon Fraser, who was the former owner of the Castle Bruce estate in Dominica, which was handed compensation totalling £397,451 in today’s money.
What Lloyds of London says today:
A spokesman said: “We are sorry for the role played by the Lloyd’s market in the 18th and 19th century slave trade. This was an appalling and shameful period of English history, as well as our own, and we condemn the indefensible wrongdoing that occurred during this period.
“We will provide financial support to charities and organisations promoting opportunity and inclusion for black and minority ethnic groups.”
P&O
How P&O is linked to the slave trade:
Joseph Christopher Ewart, who later became a director of P&O Steam Navigation Co, along with others was awarded compensation for Long Lane Delap’s estate in Antigua as mortgagees-in-trust. The total compensation in today’s money was £334,336.
What P&O owner DP World says today:
A spokesperson for P&O said: “We believe that these records relate to a time before P&O was incorporated. Also, P&O ships did not trade on the Atlantic in this era and first went to the West Indies almost 100 years later, in 1932.”
Danske Bank
How Danske Bank is linked to the slave trade:
Frederick Hervey Garraway was awarded compensation for eight claims over estates in Dominica, at the equivalent sum today of £905,150. Garraway made an investment in Belfast Banking Company, which became Northern Bank and was then acquired by Danske Bank.
What Danske Bank says today:
Stefan Singh Kailay, head of Media relations, said: “We have a zero-tolerance policy against all forms of discrimination, disrespectful behaviour, bullying, and harassment of any kind towards employees, customers, business partners, or any other persons connected to Danske Bank.”
Barclays
How Barclays is linked to the slave trade:
A manager, one founder subscriber and three directors of the Colonial Bank – merged with Barclays in 1917 – are listed as claimants or beneficiaries by UCL. They include founder subscriber William Tetlow Hibbert, who was awarded compensation over nine claims relations to estates in Jamaica totalling £4.5 million in today’s money.
What Barclays says today:
A spokesman said: “The history of Barclays, like other institutions, is being examined following recent events. We can’t change what’s gone before us, only how we go forward. We are committed as a bank to do more to further foster our culture of inclusiveness, equality and diversity, for our colleagues and the customers and clients we serve.”
HSBC
How HSBC is linked to the slave trade:
George Pollard was first manager of London Joint Stock Bank, which was later absorbed by Midland Bank and eventually merged into HSBC. Pollard was trustee over a claim regarding Colhoun’s estate in Nevis, for which compensation was paid totalling £289,586 in today’s money.
What HSBC says today:
A spokesman had not commented at the time of going to press.
