 The Swan stood in a courtyard on the northern side of Lad Lane, near the junction with Milk Street, Aldermanbury, and Cateaton Street.Lad Lane and Cateaton Street were among four streets amalgamated into Gresham Street in 1845.Rather than being ringed, swans' bills would be annually nicked, in Swan Upping, using a metal implement, a practice reflected in the pub name The Swan with Two Necks, a corruption of "The Swan with Two Nicks".