A Benedictine nunnery originally formed part of the church which dates back to 1210.
In 1538 the nunnery was surrendered to King Henry VIII during the Dissolution of the Monasteries.
The convent buildings and land was acquired in 1543 by the Leathersellers' Company.
The church was frequented by many rich merchants who lived in the area. These included a Mercer (cloth trader) called Sir John "Rich" Spencer. He became Lord Mayor of London in 1594 during the reign of Queen Elizabeth I.
As his nickname indicates he was extremely wealthy as well as being very mean. He also operated as a money lender and explains the reference "You owe me Ten Shillings" in the rhyme.
William Shakespeare attended this church ( the Bard was also involved in money lending and in 1570 his father John Shakespeare, also a leather seller, was accused in the Exchequer Court of Usury for lending money at the rate of 20% and 25% Interest) http://www.william-shakespeare.info.