Bank of England Ties to Slave Trade Exposed: 24 Directors Invested
New research has shed more light on the Bank of England's ties to the transatlantic slave trade, revealing that 24 directors were direct investors in the slave trade. Historian Dr. Michael Bennett from the University of Sheffield found that four of these directors were part of London's ruling class and among the founding directors of the bank in 1694.
The research also concluded that 30 of the bank's founding subscribers held direct investments in the transatlantic slave trade, including royal ancestors King William III and Queen Mary II. These individuals were tied to the Royal African Company, a prominent English slave-trading enterprise.
The Bank of England acknowledged its historical ties to the slave trade in 2020 but claimed it was not directly involved. However, Bennett's research proves that the bank owned over 500 slaves across two plantations.