Hampden & Co revenue surges 74% as bank hits 5,000 clients


The rise in turnover drove pre-tax profit for the first half to £5m, up from £2m for the whole of 2022, as the private bank benefited from rising rates.


Hampden & Co’s total income rose to £15.5m in the first six months of 2023, up 74% year-on-year (yoy).

The rise in turnover drove half-year pre-tax profit to £5m – up from £2m for the whole of 2022. That came amid a strong uptick in demand for the Edinburgh and London-based private bank’s services.

An unaudited release stated the bank had more than 5,000 clients at the end of June, up 8% since the start of the year, aided by increased referrals from professional partners. Client numbers were up 13% yoy.

Total lending by the bank increased 6% from the same period of 2022 to £461m, while total deposits also rose 6% to £773m.

Lending growth was particularly strong for the bank’s retirement mortgages, which allow clients to raise funds against their main home. Lending growth was up 10% in the first half and 39% versus the same period last year.

In the wake of rising interest rates, clients continued to reallocate cash from current and call accounts into notice and term accounts, locking in higher rates. Term deposits rose 44% yoy, while with notice deposits were up 96%.

Hampden & Co chief executive Graeme Hartop said: ‘We believe we are very well positioned to increase market share in the private banking sector as well as to meet the needs of underserved high-net-worth customers of high street banks.

‘It is particularly pleasing to see a high number of referrals from other professionals such as wealth managers, solicitors and accountants, as such partnerships are of significant benefit to our mutual clients.’

In May, Hampden & Co hired Mark Plummer, who previously led Handelsbanken’s office in Mayfair, as head of private banking in its London office.

Other recent appointments include John Glanville, Kevin Eagles, Alistair Macpherson and Gill Saunders, who have all joined as banking directors since the start of 2022.

Image by: The Intermediary



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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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