Edinburgh and London-based private bank Hampden & Co said Tracey Davidson has taken over as its new chief executive officer, succeeding Graeme Hartop, who stepped down from the role after 11 years.

Hampden & Co also announced its results for the first half of 2024, reporting that total balance sheet assets reached £1 billion for the first time.

Total deposits increased 15.8% year-on-year to £895 million, with total lending up 20.4% year-on-year to £555 million. In its 2023 annual results, the bank announced it was paying an inaugural dividend to shareholders as profit before tax reached £9.1 million.

Davidson was formerly Deputy CEO of Handelsbanken UK and Chair of Handelsbanken Wealth & Asset Management. She joined Handelsbanken from Barclays in 2003 to expand the Swedish bank’s UK operations.

“Tracey is a Board Member at the Personal Investment Management & Financial Advice Association (PIMFA) and the Chair of the Integrity and Ethics Committee at the Chartered Institute for Securities & Investment (CISI),” said Hampden.

“She was named as one of PAM’s ‘Top 50 Most Influential’ and is a past recipient of the ‘Initiatives in Diversity’ award at The City of London Wealth Management Awards.”

Davidson said: “In 2015, Hampden & Co launched as the first new UK private bank in 30 years. Since then, it has garnered a strong reputation for excellent client service and tailored products.

“I see the potential for strong growth as UK customers increasingly seek a more personalised banking service from a bank that understands their needs. I am excited to join Hampden & Co and I look forward to leading the team to further success in the years ahead.”

Hampden & Co offers banking, deposit, lending and foreign exchange services to high-net-worth clients, their families and businesses.