Hampden & Co signs up new clients amid Covid-19

Edinburgh-based private bank Hampden & Co has revealed that it has gained new business, for example taking over loans, amid the Covid-19 crisis.

The lender has seen an upswing in new clients migrating accounts and loans. Picture: contributed.

The lender has been contacting existing clients around liquidity and the refinancing of loans, with an upswing in new clients migrating accounts and loans.

“Clients connected to the hospitality, leisure and property-development sectors are among those to be hardest hit by the pandemic to date,” it bank said.

Mark Prentice, head of banking in Scotland, said: “As our team switched to more remote working, we were on the phones across the client base to find out how they were doing and particularly people in those areas of industry that we know are really feeling the brunt in economic terms. What we’re also seeing is that people are having difficulties with the bigger banks and they’re turning to us to help them take over their loans.

Mark Prentice (far right) with Ian Gibson and Clare Ansell at the private bank's Edinburgh HQ. Picture by Stewart Attwood.

“The type of activity we’re engaged in has ranged from supporting individuals relocating to Scotland from Hong Kong, taking multi-million-pound deals from start to finish since lockdown and refinancing loans secured over shares with new loans with alternative security – all areas where people are telling us they are having issues with the bigger banks.

“While Covid-19 has been challenging for us along with so many other businesses, we’re fortunate to have experienced bankers who have been through the good and the bad times.”

It will report annual results in the next couple of weeks and recently named Simon Miller as its new chairman.

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