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Private bank Hampden & Co raises £15m from investors

Private bank Hampden & Co raises £15m from investors

Hampden & Co has raised £15 million from investors in a recent fund raise. 

The money, which came from existing shareholders, surpassed the private bank's original target of £12.5 million. 

The majority of the capital was injected by Hampden's cornerstone investors, including Xcel Catalin, Drake Enterprises and Hampden, which took a major stake in the business back in 2014 when it operated under the Scoban name

Other minority investors include Standard Life Aberdeen small cap star Harry Nimmo and fellow fund manager Ed Neal. The firm's head of strategy Gordon Neilly has also bought shares in the business.

It also has a batch of ex-Brewin Dolphin employees on its register, including the wealth firm's former chief Jamie Matheson.

He is joined by ex-Brewin head of investment management David McCorkell and former directors Henry Algeo and Ian Speke. 

It is not clear whether any of these minority investors contributed to the latest cash raise. 

Hampden & Co chief Graeme Hartop (pictured) said the backing is evidence that there is significant demand for a private bank delivering a high quality, personal service. 

'Our business is growing well and we continue to attract clients who are looking for a personal, professional banking service,' Hartop said.

'Our shareholders have a firm belief in this relationship model and as our reputation grows there is a healthy demand for our shares. 

He added: '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 pure focus on banking and our growing reputation in delivering a truly relationship-driven approach, that complements the services that they offer their clients.'

Hampden is the UK's newest private bank. It opened for business in June 2015 and is chaired former Adam & Co boss Ray Entwistle. 

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