Britain gets its first new private bank Hampden & Co in 30 years

Jessica Morris
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Hampden received £50m in capital from 250 shareholders (Source: Getty)

Hampden & Co will become the first new private bank to grace Britain's high streets in three decades when it opens its doors today.

The private bank, based in Edinburgh and London, got the regulatory green light earlier this month after raising £50m in capital from 250 shareholders.

It was founded in 2010 by Ray Entwistle, former chairman of Adam & Company, and will be run by chief exec Graeme Hartop, formerly at the helm of Scottish Widows Bank.

Hampden will employ more than 50 bankers and support staff.

"There is strong demand for a new private bank which delivers the right quality of service with long-term continuity of personnel and speed of decision making," Entwistle said.

"The timing for launch is ideal as we continue to experience an improved economic environment, strong client demand and a favourable competitive landscape, as a large number of the existing banks continue to deal with significant legacy issues," Hartop said.

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