The Archaeologist is one of the only men, from his era, to examine the ruins of the Old Kingdom. His study of the Focus Sites and Old Kingdom passages put him at odds with Jack of Blades, and as a result, he has become rather reclusive, hiding wherever he can. The Hero first meets him on a mission for Maze, who claimed he was an old friend of his, which is unlikely since he was working for Jack, at this point. The Hero later saves him from Jack's minions, only for him to continue hiding. He runs off to the Cities of the West, disguised as a glove trader. He then never stepped near a ruin or opened a book since. According to him, he knows everything.
It's never really made clear on if the Archaeologist is actually Maze's friend or not. Since Maze is the only one who brings up their relationship.
There is also unused dialogue that hints at the Archaeologist being aware of the crates that you stole or protected during the raid on Orchard Farm. For some reason this sub-plot was completely removed from the game and is now only hinted at in the Hero's Journal.
In the game files for Fable, the Archaeologist uses many names. Such as Map Keeper and Trophy Dealer. Obviously Map Keeper is his intended name and Trophy Dealer is an NPC where they swapped out the model for the Archaeologist instead. This leads to an oversight were under the right conditions, the Hero can trade him for trophies.