Black Horse Limited is a motor finance company based in the United Kingdom. It was formed in July 2001, as a wholly owned subsidiary of Lloyds Banking Group, but its origins can be traced back to 1922.
The business should not be confused with Black Horse (originally Beehive and most recently Lloyds TSB) Life Assurance Company, whose interests were amalgamated into Scottish Widows in September 2004.[1]
Following the creation of Lloyds TSB Group in 1998, the businesses of Lloyds Bowmaker (formerly Lloyds and Scottish) and United Dominions Trust were combined into Lloyds UDT. In September 2000, Lloyds TSB acquired Chartered Trust,[2] and, in June 2001, the business of Chartered Trust was merged into the business of Lloyds UDT, and the enlarged operation rebadged under the Black Horse name, to form the asset finance division of Lloyds TSB.[3]
Former headquarters of the United Dominions Trust, Cockfosters.
United Dominions Trustedit
The origins of UDT go back to 1919, when the Continental Guaranty Corporation of New York established a branch in the City of London, which concentrated mainly on providing finance for the British motor trade. The business of the branch was transferred to a separate company in 1922, which was registered in England as the Continental Guaranty Corporation Ltd.
In 1923, the company was acquired by British interests; in 1925, it converted to a public company and the name was changed to United Dominions Trust. Having been previously associated with Barclays Bank, in 1981, it became a subsidiary of the Trustee Savings Bank.[4]
Lloyds Bowmakeredit
Bowmaker Limited was formed in 1926 and acquired by Lloyds and Scottish in 1982. Lloyds and Scottish was formed in 1958, by the acquisition of the Scottish Midland Guarantee Trust and Olds Discount Company by Lloyds Bank and the National Commercial Bank of Scotland (itself part owned by Lloyds Bank). In 1981, Lloyds Bank increased its shareholding in Lloyds and Scottish, taking full control of minority shareholdings in 1984, to form Lloyds Bowmaker.[5]
Chartered Trustedit
In 1973, Standard and Chartered Banking Group acquired the whole of the share capital of The Hodge Group Limited not already owned by The Chartered Bank for £45 million.[6] Sir Julian Hodge's other interests were divested to The Carlyle Trust (a company he owned) in 1976, and the consumer finance operation was renamed Chartered Trust; in September 2000, it was sold by Standard Chartered to Lloyds TSB for £627 million.[7]
^Written evidence from Lloyds Banking Group (SJ 004) Panel on mis-selling and cross-selling, Parliamentary Commission on Banking Standards, 4 January 2013
^Obituary: Sir Julian Hodge The Daily Telegraph, 20 July 2004
^Cunningham, John Obituary: Sir Julian Hodge The Guardian, 21 July 2004
External linksedit
Official website
May 18, 2024
black, horse, company, this, article, about, subsidiary, lloyds, banking, group, other, uses, black, horse, disambiguation, black, horse, limited, motor, finance, company, based, united, kingdom, formed, july, 2001, wholly, owned, subsidiary, lloyds, banking, . This article is about the subsidiary of Lloyds Banking Group For other uses see Black Horse disambiguation Black Horse Limited is a motor finance company based in the United Kingdom It was formed in July 2001 as a wholly owned subsidiary of Lloyds Banking Group but its origins can be traced back to 1922 Black Horse LimitedCompany typeSubsidiaryIndustryConsumer financeFoundedJuly 2001 22 years ago July 2001 1922 102 years ago 1922 as UDT HeadquartersLondon United KingdomProductsCar financeParentLloyds Banking GroupWebsitewww wbr blackhorse wbr co wbr uk The business should not be confused with Black Horse originally Beehive and most recently Lloyds TSB Life Assurance Company whose interests were amalgamated into Scottish Widows in September 2004 1 Contents 1 History 1 1 United Dominions Trust 1 2 Lloyds Bowmaker 1 3 Chartered Trust 2 See also 3 References 4 External linksHistory editFollowing the creation of Lloyds TSB Group in 1998 the businesses of Lloyds Bowmaker formerly Lloyds and Scottish and United Dominions Trust were combined into Lloyds UDT In September 2000 Lloyds TSB acquired Chartered Trust 2 and in June 2001 the business of Chartered Trust was merged into the business of Lloyds UDT and the enlarged operation rebadged under the Black Horse name to form the asset finance division of Lloyds TSB 3 nbsp Former headquarters of the United Dominions Trust Cockfosters United Dominions Trust edit The origins of UDT go back to 1919 when the Continental Guaranty Corporation of New York established a branch in the City of London which concentrated mainly on providing finance for the British motor trade The business of the branch was transferred to a separate company in 1922 which was registered in England as the Continental Guaranty Corporation Ltd In 1923 the company was acquired by British interests in 1925 it converted to a public company and the name was changed to United Dominions Trust Having been previously associated with Barclays Bank in 1981 it became a subsidiary of the Trustee Savings Bank 4 Lloyds Bowmaker edit Bowmaker Limited was formed in 1926 and acquired by Lloyds and Scottish in 1982 Lloyds and Scottish was formed in 1958 by the acquisition of the Scottish Midland Guarantee Trust and Olds Discount Company by Lloyds Bank and the National Commercial Bank of Scotland itself part owned by Lloyds Bank In 1981 Lloyds Bank increased its shareholding in Lloyds and Scottish taking full control of minority shareholdings in 1984 to form Lloyds Bowmaker 5 Chartered Trust edit In 1973 Standard and Chartered Banking Group acquired the whole of the share capital of The Hodge Group Limited not already owned by The Chartered Bank for 45 million 6 Sir Julian Hodge s other interests were divested to The Carlyle Trust a company he owned in 1976 and the consumer finance operation was renamed Chartered Trust in September 2000 it was sold by Standard Chartered to Lloyds TSB for 627 million 7 See also editLex Autolease UDC Finance Limited United Dominions Trust Ltd v Kirkwood R amp B Customs Brokers Co Ltd v United Dominions Trust LtdReferences edit Petitions to Transfer Business The London Gazette No 57419 p 12120 24 September 2004 Finance insight Lloyds keeps two brands and seeks 25m savings Automotive Management 15 September 2000 Lloyds UDT rebrands Fleet News 9 October 2002 Written evidence from Lloyds Banking Group SJ 004 Panel on mis selling and cross selling Parliamentary Commission on Banking Standards 4 January 2013 Lloyds Bowmaker Act 1983 c xiii Obituary Sir Julian Hodge The Daily Telegraph 20 July 2004 Cunningham John Obituary Sir Julian Hodge The Guardian 21 July 2004External links editOfficial website Retrieved from https en wikipedia org w index php title Black Horse company amp oldid 1178244125, wikipedia, wiki, book, books, library,
