William Lidderdale PC (July 16, 1832 - June 26, 1902) was a British merchant, and governor of the Bank of England between 1889 and 1892.[1]
Lidderdale was born to British parents at the British Chaplaincy in Saint Petersburg, Russia, and was educated at Birkenhead in Cheshire.
After working for the Russian merchants Heath and Co, he joined the Liverpool merchant house of Rathbone Brothers, working in their New York office from 1857 to 1863. He was made a partner in 1864, and went on to establish the firm's London office.
He became a Bank of England director in 1870, becoming Deputy Governor in 1887, and Governor in 1889.
Lidderdale's period in office is notable for his handling of the Barings crisis, cause of the 'Panic of 1890'. Barings became over-extended in underwriting Argentine debt, the value of which strongly declined following political unrest in Buenos Aires, and the recognition of the inefficient use of borrowed funds. Lidderdale organized a successful consortium to rescue the bank. In recognition, he was granted the Freedom of the City of London and was made a member of the British Privy Council.
He lived at Ascot Place at North Ascot in Winkfield, Berkshire.
| Government offices | ||
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| Preceded by Mark Wilks Collet |
Governor of the Bank of England 1889 - 1892 |
Succeeded by David Powell |