Marketing as a recognised professional skill standing in its own right is relatively new, and the idea for a City Guild for senior marketing professionals first came about in 1969. A working party was set up in 1973 and several senior Fellows of the Institute of Marketing subsequently helped gain the support of the Court of Aldermen in the City of London for establishment of a Guild. Reginald Bowden, chairman of the working party, became Founder Master, serving from 1975 to 1978. On 14 April 1978 letters patent were presented to the Guild of Marketors and it became a livery company. Reginald Bowden was followed as Master by several other members of the initial working party.