Originally, Cllr Mace called for “all streets, squares and public places named after those who were involved in promoting or … Penny Lane was left as it was. There is a common misconception that Penny Lane may have been named after 18th-century Liverpool slave trader James Penny, although the city's International Slavery Museum stated in June 2020 that there is no historical evidence linking Penny Lane to James Penny. James Penny was a slave trader, but he had nothing to do with the Penny Lane area.” Rotheram aims to do research into the origins of the name and plans to take action if a link is found. Penny Lane is thought to have been named after 18th century slave ship owner James Penny, who made his fortune in the industry. The Beatles made Penny Lane famous and now it’s possible the Liverpoool laneway will get a new name. Penny Lane is a street famous worldwide thanks to The Beatles 1967 hit, but the south Liverpool street owes its name to an outspoken Liverpool slave ship owner and staunch anti-abolitionist. Ivelise Markovits (Ive) founded Penny Lane in 1969. Her sense of justice was already very strong. Upon graduating from high school in her native Puerto Rico, Ive (E-vay) and her family moved to Southern California. Penny Lane was named for 18th-century slave trader James Penny; when, in 2006, the Liverpool town council proposed to rename all such streets named after slavers, this disconcerting fact came up. Last week, four of the street’s roadsigns were … In college, Ive was a feminist, socio-political activist and a peace marcher.