Magic Circle law firm Freshfields has become the latest city institution to explore its historical links with slavery after Lloyd’s of London announced a £52 million investment in racial equality projects last week.
The 280-year-old law firm is reportedly investigating its links to the transatlantic slave trade after previously expressing “regret” over its founder’s involvement.
James William Freshfield, one of the founders, benefited financially from acting as trustee for clients in deals involving slave plantations.
Freshfields Bruckhaus Deringer, founded in 1743, is investigating whether there are any further links with slavery, reports the Sunday Telegraph.
“We deeply regret any historical ties the company has to the inhumane institution of slavery,” a spokesperson said.
Probe: The 280-year-old law firm is reportedly investigating its ties to the transatlantic slave trade
“We work to understand our history so we can acknowledge and learn from it, alongside the independent historical research we fund into the role of the City of London and its ecosystem in relation to the transatlantic slave trade.
‘We are committed to making meaningful progress to create a sustainable, diverse and inclusive workplace and have a positive impact on society.’
It comes as city businesses face increasing pressure to address their historic ties to the slave trade.
Lloyd’s of London announced last week it would invest £52 million in racial equality projects after a report exposed its “central role” in the slave trade. But the insurance market has not yielded to calls for reparations to be paid to the descendants of slaves.