Tracey Davidson has been appointed the new chief executive officer, CEO, of UK private bank Hampden & Co.

She will succeed retiring Graeme Hartop, who held the position for a total of 11 years. When Hartop steps down in the autumn, Davidson will become part of the bank.

Davidson, who joined Handelsbanken UK in 2003 to grow the company’s banking activities in the UK, will be leaving her position as deputy CEO there.

In addition, she is a board member of the Personal Investment Management & Financial Advice Association (PIMFA) and the chair of Handelsbanken Wealth & Asset Management.

Simon Miller, chair of the board at Hampden & Co, said: “We are delighted Tracey is joining Hampden & Co as our new CEO. She was the outstanding candidate in a very strong field, and she is very well respected in the market, among peers and by clients and professional intermediaries.

“Graeme has led the bank through launch to profitability with record levels of deposits, lending, and client numbers. We wish him great success in the next phase of life and thank him for his commitment, leadership, and vision in building strong foundations for Hampden & Co.”

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Davidson added: “Hampden & Co has an excellent reputation for delivering a highly personalised banking service for clients, their families, and businesses. It has significant ambitions for the future, and I look forward to leading the bank to further success.”

In its latest full-year 2023 annual results, Hampden & Co reported that client numbers climbed by nearly a fifth (19%) to a record high of 5,598.

To fulfil consumer demand for personalised banking services, the bank increased the number of staff by nearly a quarter (23%), to 154.

Due to strong borrowing demand, total loans increased by 9% to £488m ($621m) for the year.

Deposits rose 8% to £858m, with term accounts receiving a net inflow of £142m and the bank’s profit before tax in 2023 was £9.1m, up from £2m in 2022.