Two major British firms have pledged to make payments to representatives of black people, as well as those of other minority ethnic backgrounds, as they seek to address their founders’ roles in the trans-Atlantic slave trade.The pub chain and brewer Greene King and the insurance market Lloyd’s of London both revealed on Wednesday evening that they would be making the reparations.
Greene King CEO Nick Mackenzie said: “It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s.” He added that the firm will “make a substantial investment to benefit the BAME community and support our race diversity in the business”.
Lloyd’s of London said it would “invest in positive programmes to attract, retain and develop black and minority ethnic talent”, as well as providing “financial support to charities and organisations promoting opportunity and inclusion for black and minority ethnic groups”.
Records of British slave ownership archived by researchers at University College London (UCL) show that founder members of both Greenes and Lloyds owned slaves and were compensated as part of the Government bail-out of slave owners in 1833. The slaves received nothing.
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