Private bank Hampden seals £30m loan book move

Graeme Hartop

Edinburgh-based private bank Hampden & Co plc said on Monday it has received the £30 million of Smith & Williamson loan book following the financial and professional services group’s decision earlier this year to relinquish its banking licence.

Hampden & Co said it also expects to build its relationship with Smith & Williamson and its client base moving forward, and to extend the range of banking services available to them. 

Hampden & Co CEO Graeme Hartop said: “What really resonated with Smith & Williamson was our exclusive focus on high quality, service-led private banking and what we’ve found since announcing the deal is that there has been a significant step-up in interest from other wealth managers across the UK.

“It’s great to see that our collaborative way of working with a range of wealth managers is proving to be a real differentiator for Hampden & Co in the marketplace.”

In August, Hampden & Co reported 48% year-on-year income growth in its half-year results, with deposits up 39% and lending increased by 44%.

Business growth in 2019 has been supported by Hampden & Co’s expansion into the mortgage intermediary market, particularly in relation to complex mortgages for high net worth individuals.

The beginning of 2019 saw the launch of a new digital banking service and, in late September the private bank appointed financial services industry stalwart Andrew Bell to the post of chief commercial officer.

Hampden & Co now employs about 100 across its Edinburgh and London offices with further hires set to be announced in Q1 of 2020. 

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.