Charles Robert Cockerell: The builder of the Bank of England’s branches

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Anushua Biswas (Risk Manager, Bank of England – Prudential Regulation Authority) and Clarice Mihele (Archives and Records Management Assistant)

Charles Robert Cockerell (1788 – 1863), a major early Victorian English architect and archaeologist, is best known for designing three major university buildings: Cambridge University Library (1829); the Ashmolean Museum, Oxford (1845); and the Taylor Institution, Oxford (1845). However, he was also responsible for architecturally establishing the Bank’s presence nationwide, when it took the decision to establish a countrywide presence in the 1800s. 

In the Victorian era, the Bank of England achieved an almost mythic status: a common saying used across the country was ‘as safe as the Bank of England’ as an expression of ultimate security. Local governments in Leeds, Manchester, Liverpool, Birmingham and Bradford turned to the Bank when they needed loans for municipal improvements. When the domestic financial crisis struck, with the collapse of Barings merchant Bank in 1890, the Bank worked with the Government to resolve economic turmoil. Following the stock market crash of 1825, the Bank took the decision to take more control over the circulation of Banknotes with a countrywide presence, so it looked to cities like Leeds, Newcastle, Liverpool, Bristol and Manchester.

Alongside this guardian role Cockerill was developing the Bank’s architectural character. His design of bank branches in four major cities (Manchester, Newcastle, Liverpool and Bristol) visually emphasised and established the Bank’s reputation across the country, to make a statement about the institution’s providential position in the country.

As a precocious sixteen-year-old, Cockerell started his training as an architect in his father’s office. Cockerell undertook a ‘Grand tour’ of Europe which opened his eyes to classical architecture. On his return, he established an architectural practice in Mayfair. He worked closely with18th century classical models, preferring the proportionality used by architects like Andrea Palladio, Leon Battista Alberti and Vitruvius. Cockerell disliked the prevailing fashion of the period which devolved from tradition, describing it as ‘degenerate’, and attributed it to the social upheaval of the French revolution. His understanding of the theoretical principles of 18th century classicism showed in his pared back style, disdaining the kind of plaster ornamentation Bank Architect John Soane used on the Threadneedle Street building.

The Newcastle branch was initially opened on 21 April 1828, on premises at the corner of Clavering Place and Bailey Gate, consisting of a large house and a small adjoining one. The first Agent was George Carr. The local Chamber of Commerce petitioned the Bank not to open a branch in the town, but the Bank Directors pressed ahead, convinced this view did not reflect the town’s trading community. By 1894, the branch was deeply in debt, and its stock of bank notes was damaged by damp in the premises. Dead cats and rubbish were apparently hurled over the walls and the Bank was forced to employ a woman for the sole purpose of driving away hooligans for one shilling a week. When even this did not improve matters, the Bank decided to move, acquiring new premises on Grey Street, on the advice of Cockerell. 

The Newcastle branch was the first of the Bank branches for which premises were especially erected. This was significant in that it marked the beginning of a new Bank policy of its branches being purpose-built instead of purchasing and adapting old premises. Between 1837-47, this policy led to the building of new branch premises in Plymouth, Portsmouth, Manchester, Liverpool and Bristol designed by Cockerell and Philip C Hardwick. The Bank’s Newcastle branch is a clear example of Cockerell’s style of monumental architecture, with its façade of ten fluted columns. The front façade occupied the length of 8 buildings on the street. 

The Liverpool branch (opened initially in July 1827 on Hanover Street), moved to purpose-built premises designed by Cockerell on 31 Castle Street in 1848. It too has four great attached columns rising from the ground and displays a mixture of Greek, Roman and Renaissance influences. The ground floor banking hall is predominantly square with four Doric columns, and a tunnel vaulted central aisle.

Cockerell had built the Liverpool branch as a sister building to the one he had designed for Manchester in 1847. Although Manchester was the second of the Bank’s branches to be opened in 1826, it was to take twenty more years for purpose-built premises. Alex McGregor of Everton, Liverpool, and Edward Smyth of Macclesfield were appointed as Agent and Sub-Agent respectively. They met George Bailey at the Bridgewater Arms in Manchester to view premises suitable for the Branch Bank and on his recommendation, purchased premises at 35 King Street from Mr Samuel Greg for £5,250.

In the early 18th century, development of the King Street area in Manchester focused on fashionable residences. Originally known as St James Square, the name was changed to King Street after the Jacobite defeat of 1745. With the rapid growth of the town, residences were demolished to make way for more commercially-oriented buildings. By 1825, most houses on King Street had become business houses or professional offices. When the Bank opened its new branch at No 82, it started a trend which led to the concentration of the city’s financial institutions in this locality.

Cockerell’s design in the classical style for the Manchester building was undoubtedly grander than the one he had designed for Liverpool, with six Capital Doric columns on King Street (bounded by Essex Street, Tib Lane and Pall Mall). Half of this building still stands and serves as an entrance hall to a 14-storey office block behind it. The gentle slope of King Street only enhances the grandeur of the buildings. With large semi-circular arched windows and (unusually for Manchester) built of Portland stone, it possesses a dignity that exceeds its modest size. The Bank operated here for just under 125 years, then moved to another purpose-built building on Portland Street.

Cockerell used hemispherical Roman vaulting and minimal numbers of doors and windows, which he believed was an appropriate expression of the institution’s key attributes - ‘strength’, ‘seclusion, amenity and accessibility’. 

The Liverpool branch was opened on 2 July, 1827 initially on Hanover Street, the lease of which had been purchased in January of that year for £3,000 from Mr William Earle, after John Soane had surveyed and valued this and several other properties. The house was subjected to considerable alteration and repair before it was reported ready for occupation by the Bank. Samuel Turner was appointed Agent and Joseph Langston, Sub-Agent.

When the Bank made the decision to close all its branches (except Leeds) in 1997, note operations in Manchester stopped on 16 May, and the branch was formally closed on 31 October 1997. The Manchester branch of the Bank of England was remodelled as the Northwest (Manchester) Agency and re-located to Portland Street – to the office block added to the rear of Cockerell’s original building, completing a full circle. The continuing presence of Cockerell’s buildings in Northern cities are a reminder that the Bank of England’s presence was not limited to Threadneedle Street and the City of London. His familiarity with the theoretical underpinnings and larger aims of 18^th century classicism lent him an architectural language which could connect the new regional sites to the Bank’s mythic guardian reputation.