New private bank picks Hampden as its name

Tim Wallace
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INSURANCE and finance group Hampden has become a lead investor in newly licenced private bank Scoban, and will give the institution its name, the lender announced yesterday.

Scoban was licenced last month, and wants to open its doors to business this summer. It will begin with one Edinburgh and one Mayfair office.

It plans to raise £4m from individuals and £36m from institutional investors, including this “substantial” investment from Hampden.