The founder members were John Redmond Blood, David Francis Moore, James J. Law, James Rippingham Bristow, Henry J. Daly, William Samuel Hayes, James Henry Barrington, Godfrey Ferguson, Thomas Stewart and Daniel Martin Wilson.
Law, Bristow and Ferguson were from Belfast and came to work for the Northern Bank in Dublin. Stewart hailed from Derry and was a barrister. Wilson had been born in Limerick was also called to the bar and was later to become Chief Justice and stood for election to the Westminster Parliament.
The remainder were from Dublin and the entire group was known as the "Syndicate" and maintained the number at ten until the early 1950s.