Thomas Coutts (7 September 1735 – 24 February 1822) was a British banker. He was a founder of the banking house Coutts & Co.

Early life

Coutts was the fourth son of Jean (

née The birth name is the name of the person given upon their birth. The term may be applied to the surname, the given name or to the entire name. Where births are required to be officially registered, the entire name entered onto a births registe ...

Steuart) Coutts and John Coutts (1699–1751), whose business in

Edinburgh Edinburgh is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. The city is located in southeast Scotland and is bounded to the north by the Firth of Forth and to the south by the Pentland Hills. Edinburgh ...

was as a corn factor and negotiator of

bills of exchange A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a ...

, and in 1742 was elected lord provost of the city. The family was originally of Montrose, but in about 1696 one of its members settled in Edinburgh, where in due course Thomas was educated at the Royal High School.

Career

Soon after the death of John Coutts the business was divided into two branches, with one continuing in Edinburgh, the other in London. The London banking business was in the hands of Thomas and his brother James, an MP. Following the death of his brother in 1778, as surviving partner Thomas became sole head of the firm, and it was under his direction the banking house rose to the highest distinction. His ambition was to establish his character as a man of business and make a fortune, and he lived to succeed and enjoy his reputation and wealth. A gentleman in manners, hospitable and benevolent, he counted amongst his friends some of the literary men and the actors of his day. Of the enormous wealth which came into his hands he made munificent use.

Personal life

In May 1763 he married Susannah Starkey (variously reported as Elizabeth, Betty, or Susan), a young woman whose origins were humble. She was in attendance on the daughter of his brother James. They appear to have had a happy marriage, and had three daughters: * Susan Coutts (–1837), who in 1796 married George Augustus North, 3rd Earl of Guilford. * Frances Coutts (1773–1832), who in 1800 married John Crichton-Stuart, 1st Marquess of Bute. * Sophia Coutts (1775–1844), who in 1793 married

Sir Francis Burdett, 5th Baronet Sir Francis Burdett, 5th Baronet (25 January 1770 – 23 January 1844) was a British politician and Member of Parliament who gained notoriety as a proponent (in advance of the Chartists) of universal male suffrage, equal electoral districts, ...

, a "zealous and courageous advocate of reform who more than once endured imprisonment for his radical views." Coutts's first wife died on 4 January 1815. On 18 January, Coutts married Harriet Mellon, a popular actress. She was 37 years old; he was 79. He died in London on 24 February 1822, leaving his entire fortune to his widow. In 1827, she remarried William Beauclerk, 9th Duke of St Albans, who was 23 years her junior. She died ten years later, bequeathing her property to Thomas's granddaughter, her step-granddaughter Angela, the youngest daughter of Sir Francis Burdett. Angela then assumed the additional name and arms of Coutts. In 1871, Angela was created Baroness Burdett-Coutts.

Legacy

The HCS ''Thomas Coutts'', a

merchant ship A merchant ship, merchant vessel, trading vessel, or merchantman is a watercraft that transports cargo or carries passengers for hire. This is in contrast to pleasure craft, which are used for personal recreation, and naval ships, which are ...

of the

British East India Company The East India Company (EIC) was an English, and later British, joint-stock company that was founded in 1600 and dissolved in 1874. It was formed to Indian Ocean trade, trade in the Indian Ocean region, initially with the East Indies (South A ...

active from at least 1826 :c:Thomas Coutts (ship, 1817) to 1839, was named for Coutts.

References

External links

* * {{DEFAULTSORT:Coutts, Thomas 1735 births 1822 deaths People educated at the Royal High School, Edinburgh Businesspeople from Edinburgh Scottish bankers Scottish company founders 18th-century Scottish businesspeople Anglo-Scots