Historic research links Bank of England and British finance to transatlantic slave trade

A team of scholars assembling the Register of British Slave Traders has uncovered extensive ties between the Bank of England and the transatlantic slave economy. Their analysis identified 24 Bank directors—four of whom were founding members in 1694—who invested in slave trafficking, and at least 30 original subscribers, including monarchs William III and Mary II, who held shares in the Royal African Company. The Bank’s clientele encompassed the Royal African Company and the South Sea Company, and its officials supplied the financial infrastructure that enabled the slave trade.

Further research revealed the Bank owned 599 enslaved individuals on two plantations, while the Treasury disbursed compensation equivalent to billions today to former enslavers after the 1833 abolition, with no reparations to the enslaved. Although the Bank has apologized for its historic involvement, the Treasury has not, prompting growing pressure from Caribbean and African governments for reparative action.