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Hampden & Co announces Chairman Alan Hughes retires from the Board

Edinburgh, London, 15 October 2019 - Hampden & Co plc, the private bank, has announced that its Chairman, Alan Hughes has retired from the board. Alex Hammond-Chambers will take on the role on an interim basis until the new Chairperson is appointed.

Alan joined the bank as Deputy Chairman in 2014 and took on the role of Chairman in 2018. Hughes is an industry stalwart, a previous CEO of First Direct Bank, a former executive board member at HSBC and he serves as Pro-Chancellor and Deputy Chair at Loughborough University.

Graeme Hartop, CEO of Hampden & Co, says “We are immensely grateful for all that he has done to help guide the Bank through launch and the important early years of operation. He has contributed significantly over the years and his vast experience will be missed around the Board table. All the board, and the entire team at Hampden & Co, wish Alan the very best for the future.”

- Published 17 October 2019

Annual Results : 40% Growth and a National Award

Hampden & Co reports 2018 annual results:
  • Lending up 40 per cent, income up 63 per cent
  • ‘UK Private Bank of the Year’ award*.
Since the year end:
  • £9.8m of new investment
  • Alan Hughes appointed Chairman

Edinburgh, London, 4 June 2019 - Hampden & Co plc, the private bank, reported its lending, deposits and income all up by double-digits in its 2018 Results. Lending was up 40 per cent to £132.5 million, deposits up 38% to £267.5 million and total income up 63 per cent to £6.4 million.

In April 2019, Hampden & Co shareholders invested a further £9.8 million in the three year old Bank.

CEO, Graeme Hartop, said: “This growth demonstrates the demand for our truly personalised private banking service. And we added to it in February 2019 our digital banking service and mobile app.”

Hampden & Co’s founder, Ray Entwistle, retired as chairman in 2018 and is succeeded by Alan Hughes. Alan commended Ray’s highly successful career of over 50 years culminating in the creation of Hampden & Co. Alan Hughes said: “After only three years Hampden has been awarded ’UK Private Bank of the Year*, Ray has a great deal to be proud of.”

Hughes is an industry stalwart, a previous CEO of First Direct Bank, a former executive board member at HSBC and he serves as Pro-Chancellor and Deputy Chair at Loughborough University.

- Published 4 June 2019

Hampden & Co on BBC Radio Scotland's "Clever about Cash"

Graeme Hartop, our CEO; Mark Prentice, the Head of Banking in Scotland; and one of our clients were interviewed for BBC Radio Scotland's "Clever about Cash". This segment starts in the 23rd minute. You will need to sign up for a BBC account, if you do not already have one, in order to listen to the interview.

- Published 27 May 2019

Hampden & Co reports rapid growth

HAMPDEN & Co, the independent bank which opened in June 2015, has increased income by 138% and nearly doubled the volume of loans it makes to clients. In the second full year of trading, loans grew by 96% to £94.2m and deposits by 35% to £194.6m.

Hampden & Co is the UK’s newest Private Bank, and was created to provide a personal, professional banking service, in contrast to an industry that is moving in a direction of automation and digital self-service.

Graeme Hartop, CEO of Hampden & Co, said:

I am delighted to be reporting such strong growth figures, which have been driven from both our London and our Edinburgh offices. Our growth demonstrates the fact that there are many successful people who value the service we offer, and are attracted to a bank based on traditional values and personal service.”

Hampden & Co attributes part of this growth to the fact that it focuses purely on providing high quality banking, and does not offer services that compete with other professional advisers such Wealth Managers. This has led to these other professional advisers actively recommending the bank to their clients.

Graeme Hartop continues:

When we launched we were the only Private Bank that focused purely on banking. By working alongside other advisers we are able to form part of a client’s advisory team, to work together on a client’s behalf. This focused position has been welcomed by clients and fellow professionals alike”

While the bank has reported strong balance sheet growth, overall losses increased by 1.6%, with the 138% increase in income to £3.9m offset by increases in costs of 30% to £10.3m.

Graeme Hartop positions these losses by saying:

“These losses are entirely in accordance with our business plan, and are to be expected by a new bank. The fact that our recent capital raising was over-subscribed demonstrates the justified confidence that our shareholders have in the long term prospects for the bank.”

Asked about the increase to the cost base, Hartop provides further details:

“Clearly as the bank grows we need to invest in new people and new services. We recently announced the opening of second premises in Edinburgh, and we continue to hire top talent into the banking team and across the business. We are shortly going to be launching a mobile banking solution as a demonstration of how our traditional banking values are complemented by appropriate technology.”

Chairman Ray Entwistle commented on the results, saying:

“The bank has continued to progress very well, and is in excellent shape. Whilst I am delighted with our financial results it is the ongoing feedback I receive from our clients that is particularly pleasing and shows we are growing from strong foundations.

The fact that our clients have been introducing younger generations from their families to us, has also been well received. It is rewarding to see younger people becoming part of Hampden & Co, something we visualised from the inception."

- Published 5 June 2018

Hampden & Co roaring ahead!

HAMPDEN & Co, the independent bank which opened in June 2015, is strengthening its team serving high net worth clients in Edinburgh and London.

The highly experienced Andrew Jackson is taking on the newly-created post of “Head of Banking Management” in their Mayfair, London office. With over 30 years in private banking, he joins from the private bank Duncan Lawrie.

Graeme Hartop, CEO of Hampden & Co., said:

“Andrew Jackson is one of private banking’s most respected and experienced practitioners and it is testimony to the success of our private banking proposition that he wants to become part of our team.”

Further evidence of the private bank’s expansion is the addition of a second office in Edinburgh.

Hampden & Co have acquired second premises close to their existing base in Charlotte Square, Edinburgh. The new office is just around the corner in South Charlotte Street and will house the operational and administration teams with clients still going to the existing Charlotte Square office for meetings with their private banker.

Hampden & Co believe in their relationship-driven approach to private banking whereby they look at a client’s overall situation, including their family and family businesses, not just a bank account in isolation.

Graeme Hartop said:

“We don’t just provide private banking for an individual, we look at their entire banking needs and extend our services to their family and to their commercial businesses. When clients are looking to support their son or daughter, for example, by helping them with securing a mortgage, we would happily assist them.”

Hampden & Co see a wide range of high net worth individuals being interested in becoming clients, and frequently work with other advisers to high net worth clients as part of a broader team. Graeme Hartop, said “Advisers such as wealth managers, accountants and lawyers can be hesitant to introduce their clients to a bank which offers services that compete with their own. By purely focusing on providing a professional, relationship-driven banking service, these advisers are happy to introduce their clients to us, as well as taking advantage of it themselves.”

Chairman Ray Entwistle, reflects on the growth of the bank, saying:

“There is no doubt the large banks want to reduce costs, as we have seen with the recent branch closure announcements, and this creates a very de-personalised banking experience. Many successful people however still value a personal, professional service. That’s what we do, and it’s working.”

Alan Steel, the Chairman of Alan Steel Asset Management, reinforces the point “Having been in Independent Financial Advice for 45 years now, I’m only too aware of what clients want regarding care of their wealth: trust, knowledge and quality of service. And that’s why my wife and I chose to bank with Hampden & Co. And we’ve invested in their future too. There’s confidence for you.”

Graeme Hartop concluded:

“We are expanding our headcount and our premises. We’ve come a long way in less than three years and we will be announcing further hirings shortly.

Our growth proves that there is a market for quality private banking and our belief that banking is a people business is paying off for us and our clients."

- Published 21st May 2018

Hampden & Co’s recent capital raise 20% over-subscribed

Hampden & Co, the UK’s newest Private bank, has announced that it raised more capital than planned in its recent fundraising. The bank intended to secure £12.5 million in additional funds, but due to shareholder demand, this increased to over £15 million.

Graeme Hartop, the Hampden & Co CEO, puts the increased interest from shareholders down to the fact that there is significant demand for a private bank delivering a high quality, personal service, he adds “Our business is growing well and we continue to attract clients who are looking for a personal, professional banking service. Our shareholders have a firm belief in this relationship model and as our reputation grows there is a healthy demand for our shares.”

Hartop believes the fact that the bank has a dedicated focus on providing high quality banking services is another reason behind the rapid growth “Successful individuals frequently use a range of advisers, such as wealth managers, accountants and lawyers, and we have found that these advisers are very happy to refer their clients to us because of our growing reputation in delivering a truly relationship-driven approach, that complements the services that they offer their clients.”

- Published 31st Jan 2018

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