Edinburgh-based private bank Hampden & Co announced that Colin Tate has joined the firm as chief operating officer (COO).

Tate joins Hampden from Sainsbury’s Bank where he spent over a decade in senior management roles including Head of Architecture, Head of Strategic Design and most recently Head of Digital Transformation.

Tate was previously a management consultant with Accenture, Capgemini and PwC.

Tate succeeds Stuart Alexander, who retires next month.

Hampden & Co CEO Graeme Hartop said: “Colin brings exceptional experience to the role of COO having worked for companies serving clients across a variety of industries.

“This is an important hire for the bank as we continue to build on the technology that underpins our service to clients.

“We look forward to Colin’s contribution in the months and years ahead.

“We also take this opportunity to thank Stuart for all his valuable contributions down the years.”

Tate said: “Graeme and the team have grown the bank into one of the most exciting players in the UK private banking sector.

“With ambitious growth plans and a talented team, it’s a great time to be joining Hampden & Co and I look forward to helping to drive ongoing success at the bank.”

In April, Hampden & Co reported strong growth in revenue, deposits and loans following what the UK private bank described as “growing demand from clients for accessible, flexible banking expertise.”

Total income for the year to December 31, 2020, increased 18% to £10.2 million, with deposits up 22% to £501.2 million and loans and advances up 60% to £326.3 million.