Edinburgh bank reveals new chief executive as veteran boss retires

Scott Wright
·3-min read
Tracey Davidson <i>(Image: Hampden & Co)</i>
Tracey Davidson (Image: Hampden & Co)

Hampden & Co, the Edinburgh-based private bank, has appointed a new chief executive.

Tracey Davidson will join from Handelsbanken UK in the autumn to replace Graeme Hartop, who is retiring after 11 years in the role. Ms Davidson is currently deputy chief executive and chair of Handelsbanken Wealth & Asset Management, having joined the UK arm of the Swedish bank from Barclays in 2003.

Mr Hartop, a former managing director of Scottish Widows Bank, has been with Hampden since its inception. He teamed up with Ray Entwistle, a former colleague at Adam & Co, when the veteran banker was setting up Hampden & Co with a remit to cater for well-heeled customers in Edinburgh in 2013. Hampden opened its doors in 2015.

READ MORE: Scotland's 'most profitable sector by far' revealed

Simon Miller, chairman of Hampden & Co, said: “We are delighted Tracey is joining Hampden & Co as our new CEO. She was the outstanding candidate in a very strong field, and she is very well respected in the market, among peers and by clients and professional intermediaries.

“Graeme has led the bank through launch to profitability with record levels of deposits, lending, and client numbers. We wish him great success in the next phase of life and thank him for his commitment, leadership and vision in building strong foundations for Hampden & Co.”

Ms Davidson said: “Hampden & Co has an excellent reputation for delivering a highly personalised banking service for clients, their families and businesses. It has significant ambitions for the future, and I look forward to leading the bank to further success.”

READ MORE: Award-winning Scottish glassware company to shut down

The change of chief executive was announced by the bank shortly after it reported profits of £9.1 million for 2023, up from £2m the year before, which came as client numbers increased by 19% to 5,598.

The bank, which has offices in Edinburgh and London, said the results underlined demand for its personalised banking and bespoke lending, and highlighted the benefit of introductions from existing clients, professional advisers, and mortgage brokers. Hampden said it had also seen customers join from other private and mainstream high-street banks.

Commenting at the time, Mr Hartop said: “Our accessible and personalised approach to banking is valued by our existing clients and has attracted many new clients. It shows that many people, including high-net-worth and affluent customers of high street lenders, appreciate the benefits of relationship banking.

“In an environment where interest rate rises have encouraged people to use savings to pay down debt, the bank grew both deposits and lending in 2023.

“The high volume of referrals from other advisers, including wealth managers, solicitors, accountants and mortgage brokers was further positive endorsement of the bank, our staff and our ability to work in partnership with these other professionals.”

Hampden's latest accounts show that it employee headcount had increased by 23% to 154, with key hires including the arrival of industry veteran Mark Plummer as head of private banking and Patrick Preece as banking director in London, and Claire Mann as head of client proposition.

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • £8,900 in savings? I’d aim to turn it into a £280 monthly passive income like this

    By investing under £9,000 in the right way over the long term, this writer could hopefully earn hundreds of pounds per month in passive income. The post £8,900 in savings? I’d aim to turn it into a £280 monthly passive income like this appeared first on The Motley Fool UK.

  • This 10.6% yielder beats every dividend share on the FTSE 100. Can it last?

    Harvey Jones couldn't resist the double-digit yield on offer from this FTSE 100 stock. Now he'd like to get some share price growth, too. The post This 10.6% yielder beats every dividend share on the FTSE 100. Can it last? appeared first on The Motley Fool UK.

  • Investor Michael Burry has 10% of his portfolio in these 2 dirt-cheap value stocks

    Contrarian investor Michael Burry has taken large stakes in these two well-known value stocks. Which one would I rather buy? The post Investor Michael Burry has 10% of his portfolio in these 2 dirt-cheap value stocks appeared first on The Motley Fool UK.

  • Boeing finds new flaws in 787 jets: sources

    STORY: Boeing has found more quality problems on its jets. Reuters sources say the issues this time concern its 787 widebody planes. They say the aerospace giant has found hundreds of incorrectly tightened fasteners on some undelivered aircraft. The sources say the problem was discovered at plant in South Carolina, with the fasteners found to have been tightened from the wrong end. There is no immediate concern about flight safety, but one source says Boeing is trying to understand how the problem arose - and how much work it must do to remedy the issue.The company confirmed the checks to Reuters, and said there would be no impact on deliveries. Even so, it’s another concern for investors after a series of quality control issues at the company. Some of its big-selling 737 MAX jets were grounded for a time earlier this year after a midair blowout on one of the planes. The Federal Aviation Administration has blocked a plan to raise output of the model, while Boeing takes steps to ensure manufacturing quality. Regulators said they were aware of the new concerns regarding the 787, and would work with the company to determine appropriate action. Boeing shares are down around 30% this year amid all the problems.

  • Here’s the 2024-2027 dividend forecast for one of the FTSE 100’s most reliable income stocks

    Following publication of updated guidance, our writer’s been looking at the Legal & General dividend forecast for the next four years. The post Here’s the 2024-2027 dividend forecast for one of the FTSE 100’s most reliable income stocks appeared first on The Motley Fool UK.

  • Gordon Brown-backed stealth tax could push up mortgage payments by £170

    Gordon Brown’s proposal to launch a stealth tax raid on banks would add hundreds of pounds to the cost of the average mortgage, analysis suggests.

  • Taxpayers ‘ripped off’ as millions of student loans may never be paid back

    Taxpayers risk being “ripped off” as figures suggest millions of graduates will never pay back their student loans.

  • The Bank of England should ignore politics and cut rates on Thursday

    The Bank of England risks becoming public enemy number one again this week. On Thursday the Bank’s Monetary Policy Committee will announce its latest decision on interest rates. If it surprises the markets by cutting rates just two weeks before election day, some will accuse it of trying to do the Conservatives a favour.

  • The great stock market recovery is under way!

    A new bull market's here, and UK stocks are already surging in double digits! But even with this momentum, there are still bargains to enjoy. The post The great stock market recovery is under way! appeared first on The Motley Fool UK.

  • When is the next interest rates announcement and will they increase?

    The UK central bank began raising interest rates as the pandemic came to an end and energy costs began to rise

  • 17% of my Stocks and Shares ISA is invested in these 2 UK shares

    Stephen Wright looks to focus on investments in companies that have strong competitive advantages. And two UK shares stand out to him. The post 17% of my Stocks and Shares ISA is invested in these 2 UK shares appeared first on The Motley Fool UK.

  • Will this penny stock be the next Nvidia?!

    Nvidia shares have exploded 29 times in value since 2019, but can this semiconductor penny stock do the same? Zaven Boyrazian investigates. The post Will this penny stock be the next Nvidia?! appeared first on The Motley Fool UK.

  • After the general election what might happen to the FTSE 100?

    Our writer’s been looking at the manifestos of the three main political parties to try and understand how the general election might impact the FTSE 100. The post After the general election what might happen to the FTSE 100? appeared first on The Motley Fool UK.

  • With the FTSE 100 flying, I love the look of this company

    The FTSE 100 index has been in rally mode over the last few months, but I think one of it's companies could be well worth a closer look. The post With the FTSE 100 flying, I love the look of this company appeared first on The Motley Fool UK.

  • Is Legal & General the best FTSE 100 stock to buy for passive income now?

    The Legal & General share price has been flat for a few years, despite chunky dividend forecasts. I check its passive income outlook. The post Is Legal & General the best FTSE 100 stock to buy for passive income now? appeared first on The Motley Fool UK.

  • 5 quality UK stocks to consider buying for the new ‘British ISA’

    In theory, a British ISA would allow investors an additional £5k (on top of the standard £20k allowance) so long as it's invested in UK-listed comapanies. The post 5 quality UK stocks to consider buying for the new ‘British ISA’ appeared first on The Motley Fool UK.

  • I like dividends but I’m avoiding National Grid shares. Why?

    National Grid shares have a yield over 6% and the business has little competition. So why does this writer have no interest in investing? The post I like dividends but I’m avoiding National Grid shares. Why? appeared first on The Motley Fool UK.

  • Musk Answers Tesla Faithful With Trillion-Dollar Robot Prophesy

    (Bloomberg) -- Elon Musk responded in kind to Tesla Inc. investors reapproving his massive compensation plan, offering outlandish predictions that he can enrich shareholders all over again.Most Read from BloombergWells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity’Southwest Plane Plunged Within 400 Feet of Ocean Near HawaiiBump Stock Ban Tossed Out by Supreme Court in Gun-Rights WinTesla Investors Get Behind Musk’s Fight for $56 Billion Pay DealApple to ‘Pay’ OpenAI for ChatGPT T

  • Could this undervalued growth stock be the next big success story in US tech?

    Shares of this US technology giant have collapsed almost 50% in 2024, but is the growth stock now an incredibly undervalued bargain? The post Could this undervalued growth stock be the next big success story in US tech? appeared first on The Motley Fool UK.

  • 2 UK stocks that could do well out of the general election

    Jon Smith runs the rule over two UK stocks that may benefit from higher spending on healthcare, consumer staples and any election uncertainty. The post 2 UK stocks that could do well out of the general election appeared first on The Motley Fool UK.