First new private bank for 30 years opens in UK

The first new private bank in the UK for over thirty years has officially launched, after gaining approval from regulators.

Hampden & Co was formally approved to operate as a private bank by UK regulators the PRA and FCA, as well as the Bank of England, this week. The bank was founded by Ray Entwistle, who left his role as chairman of Adam & Co in 2010 to begin a four-year process of fundraising and gaining regulatory approval.  The new bank will be run by Graeme Hartop, formerly CEO of Scottish Widows Bank.  He joined Scottish Widows Bank in the mid-1990s while the business was still a start-up, and remained there as a managing director following its subsequent sale to Lloyds. The new private bank w...