Famous for being the site of the Bank of England – “the Old Lady of Threadneedle Street” – since 1734, there’s a couple of explanations for the origins of Threadneedle Street’s name – and both relate to livery companies associated with textile industries.
The first is that of the Worshipful Company of Needlemakers, initially granted livery by the Lord Protector Oliver Cromwell in 1656 and then again by King Charles II in 1664. The company has a coat-of-arms featuring Adam and Eve holding up a shield on which can be seen three needles, hence Three Needles Street, the corruption of which is Threadneedle Street.
The second is that of the Merchant-Taylors’ Company, one of the 12 great livery companies, which was founded by Royal Charter in 1327. Its livery hall has been based in Threadneedle Street since the 14th century.
Either or both could be the reason for the unusual name of this City of London street, which runs from Mansion House north-east to Bishopsgate.
Other famous properties located in the street have included the headquarters of the infamous South Sea Company and the first site of the Baltic Exchange (formerly in the Virginia and Baltick Coffee House) which is now in St Mary Axe.
NOTE: The article initially said it was playwright Richard Brinsley Sheridan who first coined the phrase Old Lady of Threadneedle Street. To clarify – it was actually a speech by Sheridan, an MP, in the House of Commons in which he described the bank as “an old woman” which is thought to have prompted satirist James Gillray to produce a cartoon ‘Political Ravishment of the Old Lady of Threadneedle Street in Danger’ which in turn is believed to have coined the phrase.