First plc: London's Former Financial Services Group

First plc was a prominent UK financial services company headquartered in London, but it is important to clarify its history and current status. Founded in 1850 as the London and General Insurance Company, it evolved into a diversified financial services group offering insurance, investment, and banking-related products.

The company was listed on the London Stock Exchange and was a constituent of the FTSE 100 index. However, First plc ceased to exist as an independent entity in 2017 when it was acquired by Standard Life Aberdeen (now abrdn) in a deal valued at approximately £1.1 billion. The acquisition integrated First's operations, including its heritage brands like First State Investments, into the broader abrdn group.

While First plc was often colloquially referred to in financial circles, it was not a "bank" in the traditional deposit-taking sense but rather a financial services conglomerate. Today, its legacy continues through abrdn's investment management and platforms divisions. Anyone seeking current banking services in London should look to institutions like HSBC, Barclays, Lloyds, or NatWest.