Hampden & Co client deposits rise 39% to £696m

Hampden & Co CEO Graeme Hartop

Edinburgh-based private bank Hampden & Co said on Wednesday that deposits from clients rose 39% to £696 million in the year to December 31, 2021, while loans and advances were up 29% to £422 million.

Total income for the year increased 29% to £13.2 million, the highest level since the bank was launched in 2015.

Hampden said demand was most marked in London and the South East of England, accounting for around two thirds of total lending.

The bank’s traditional Scottish markets also registered strong client and lending growth. In addition, lending via referrals from mortgage intermediaries rose over 38%.

Hampden & Co CEO Graeme Hartop said: “The bank performed well in 2021 and demonstrated agility and resilience to help clients face the challenges of the pandemic.

“The rise in interest rates from the historic lows of the last few years will help us to achieve profitable scale. We see signs of further rates increases in 2022 in response to inflationary pressure.

“Our purpose is to help clients achieve their aspirations.

“At a time when many banks focus on selling products and direct clients online or to call centres, we provide a bespoke banking service tailored to the needs of our clients, their families, and associated businesses.

“It’s encouraging to see this approach translate to strong growth, with record numbers of new clients joining us from across the UK.”

Hampden & Co chairman Simon Miller said: “Hampden & Co has established itself as one of the most highly-rated private banks in the UK.

“The bank’s group of cornerstone and larger shareholders are staunch in their support and they have committed to invest £8m in the first half of 2022. This will support the continued growth of the business.”

Hampden & Co has made a series of senior appointments across its London and Edinburgh offices and to its board.

Colin Tate joined from Sainsbury’s Bank as chief operating officer, Ryan Beattie joined as a banking director from Adam & Company, former Goldman Sachs director Caroline Taylor was appointed to the board as non-executive director and chair of the remuneration committee, and Noble & Co CEO Angus Macpherson joined the board as a non-executive director.

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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.