The firm, founded in 2001,[2] is based in New York City and run by billionaire[3] J. Christopher Flowers, a former Goldman Sachs partner.

[14] In July 2010 JC Flowers announced its intention to purchase a stake in the UK's Kent Reliance Building Society[15] and this deal was completed on 1 February 2011 with the formation of OneSavings Bank Plc.

In December 2012 JC Flowers was reported to have submitted a non-binding first-round bid for the 316 branches being re-auctioned by The Royal Bank of Scotland Group.

[16] In July 2013, JC Flowers agreed to buy £450 million of loans belonging to struggling British bank Northern Rock.

[17] In October 2016, JC Flowers aided the acquisition of retail stockbroker TD Direct Investing Europe by a smaller rival Interactive Investor to create the United Kingdom's second-biggest online fund supermarket.