SCOBAN recently has received clearance from UK regulators to launch as a new private bank. It will open later in the year under the name Hampden & Co.
Hampden, the insurance and financial services group, has taken a significant stake in the business.
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Ray Entwistle, chairman of SCOBAN, said: "It is a very exciting development for us to have a company such as Hampden taking a significant investment in our new bank. Hampden is a fantastic business with a successful track record in different fields over a number of years. It provides excellent service to its clients and will be a great fit with a new high quality private bank."
Tim Oliver, chairman of Hampden, said: "We have invested in SCOBAN since its inception as we believe that there are great opportunities for a new private bank in the UK. I am delighted that we have reached an agreement for the new venture to be launched under the Hampden name."
