- Church House Trust
Church House Trust Type subsidiary Successor Virgin Bank Ltd Founded 1978 Headquarters Yeovil, United Kingdom Parent Virgin Money References: http://www.church-house-trust.co.uk/cht/
Virgin Bank Ltd trading as Church House Trust is a private British bank founded in 1978 and based in Yeovil, United Kingdom. In January 2010 the former Church House Trust plc was acquired by Virgin Money and renamed to Virgin Bank Ltd.
The origins of Church House can be traced back to 1792 when Edward Batten formed Messrs. Batten & Co. Batten was the senior of three partners and was later joined by his son John Batten in 1829. After a number of mergers and acquisitions in the nineteenth and early twentieth century the bank grew, until a number of the members of the Batten family were casualties of the First World War, leading to the company being purchased by what became the Westminster Bank.
The current company
In 1924 Lt.Colonel Bill Batten assumed control of the legal practice, and then in 1978 the bank was re-founded. The name of Church House comes from the Queen Anne house just opposite St. John’s parish church in the centre of Yeovil that was first occupied by Nathaniel Batten in 1720. In 1999 the bank was too large for this old building and moved to a former glove factory.
Purchase by Virgin
On 8 January 2010 Richard Branson's Virgin Money announced the acquisition of Church House Trust Plc for £12.3 million, giving Virgin a small foothold in the UK banking market. Virgin Money had previously been attempting to buy a bank since 2007 when it bid for Northern Rock. The bank will be renamed under the Virgin brand.
Prior to the purchase the key staff of Church House were:
- David Batten - Managing Director and Chairman.
- Graham Hughes - Chief Executive of Church House Investments Limited and has been a Director of Church House Trust Plc.
- James Mahon - Investment Director of Church House Investments Limited and a Director of Church House Trust Plc.
- James Johnsen - Director of Church House Investments Limited.
- ^ Companies House, Company No. 00980698
- ^ a b "Origins". Church House. http://www.church-house.co.uk/origins/index.shtml. Retrieved 2010-01-08.
- ^ Walsh, Dominic (2010-01-08). "Virgin Money buys minnow for retail bank launch". London: The Times. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6980387.ece. Retrieved 2010-01-08.
- ^ Alistair Dawber (2010-01-09). "Virgin gets clearance for launch into banking". The Independent (London). http://www.independent.co.uk/news/business/news/virgin-gets-clearance-for-launch-into-banking-1862548.html. Retrieved 2010-02-02.
Virgin Group Key people General Travel Publishing
Retail Mobile Motorsport Defunct
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