Message from Alexander Hoare

February 2017

Following the announcement in October, I can confirm that the transfer of our wealth management business went ahead as planned on the 17th February, with our portfolio managers moving across to Cazenove Capital Management.  We will keep in close contact with our friends at Cazenove, who will continue to provide wealth management services to our customers.

Although the transfer has completed, in essence, little has changed in that we will continue to look to do meaningful business with customers, where we can add value and build long term relationships.   Our plan is to develop our banking offering over time, with investment not just in our recently launched mobile app but also in upgrading our on-line banking to complement our service of high quality relationships.

We have seen growth in recent times across a wide range of customer including land owners, entrepreneurs, wealthy families and city professionals.  Whilst we will continue to be selective, to maintain our size and the level of service we want to deliver, we are quite happy to let our customer base grow a little further over the next few years. We are always delighted when customers come to us looking for a highly personalised banking relationship, as well as more flexible and bespoke lending facilities.