Arbuthnot Latham & Co is a
private
Private or privates may refer to:
Music
* " In Private", by Dusty Springfield from the 1990 album ''Reputation''
* Private (band), a Denmark-based band
* "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...
and
merchant bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodi ...
based near
Moorgate in the
City of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...
. It has the status of one of the 12
accepting houses.
History
Arbuthnot Latham was founded on 13 May 1833 by
Alfred Latham and
John A. Arbuthnot at 33 Great St Helen’s,
Lime Street (near
The Gherkin
30 St Mary Axe (previously known as the Swiss Re Building and informally known as the Gherkin) is a commercial skyscraper in London's primary financial district, the City of London. It was completed in December 2003 and opened in April 2004. W ...
) in the
City of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...
. Originally starting as a general merchant business, it soon began involving itself in finance and lending operations.
In 1981 the Arbuthnot family's involvement with the bank ended, with its purchase by Dow Scandia; a consortium majority owned by the
Dow Chemical Company
The Dow Chemical Company, officially Dow Inc., is an American multinational chemical corporation headquartered in Midland, Michigan, United States. The company is among the three largest chemical producers in the world.
Dow manufactures plastic ...
. It was at this time that
Henry Angest joined the bank. Shortly afterwards, Dow had sold Arbuthnot Latham.
By 1990, the business had had four separate owners
[City AM. 14 November 2013] and the Arbuthnot Latham name had been retired. After successfully leading the
management buyout
A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management-, and/or leveraged buyout became noted phenomena of 1 ...
of Secure Homes (later renamed Secure Trust),
Henry Angest acquired Arbuthnot Fund Managers (and thereby the Arbuthnot Latham name) in 1991, and then in 1994 acquired Aitken Hume Bank for an estimated £3.2million. In August 1994, Aitken Hume Bank was renamed Arbuthnot Latham & Co.
In July 2018, the company appointed Andrew Salmon as CEO.
Operations
Arbuthnot Latham focuses on three primary businesses practices: Private Banking, Commercial Banking, and Wealth Management.
In addition to this, as of March 2021 Arbuthnot offers 'Bounce Back Loans' as part of the
Bounce Back Loans Scheme (BBLS).
Private Banking
Arbuthnot's Private Banking business is structured as follows:
*Executives & Entrepreneurs
*Sports, Media & Entertainment
*Specialist
*Treasury
Arbuthnot Latham Manchester, which has a large private banking client book, grew its balance sheet from £20m in 2016 to over £300m in 2021.
Commercial Banking
Arbuthnot's Commercial Banking business is structured as follows:
*Lending Solutions
*Buy to Let
*Real Estate Finance
*Media
*Specialists
*Asset Based Lending
*Arbuthnot Specialist Finance
*Renaissance Asset Finance
In 2019, Arbuthnot Latham was the winner of
City A.M.'s Bank of the Year award (originally known as the ''Retail Bank of the Year'' award), beating
Monzo,
OakNorth,
Barclays
Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.
Barclays traces ...
, and
Credit Suisse
Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...
.
Wealth Management
Arbuthnot's Wealth Management business is structured as follows:
*Investment Management
*Wealth Planning
*Retirement Planning
In November 2020, Arbuthnot's Investment arm one WealthBriefing MENA Awards for Excellence "''Best Private Bank – Discretionary Fund Management (DFM) Offering''" award.
Locations
For the entirety of its existence, Arbuthnot Latham (including its predecessor companies) have been headquartered in the
City of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...
. From 2004 to 2014, Arbuthnot was based in Ropemaker Street; one of the former ‘rope walks’ that existed on the outskirts of medieval London. The location Arbuthnot chose to base itself during this period was very close to the
City's skyscraper,
CityPoint. In 2014, Arbuthnot Latham acquired the freehold of a property in Wilson Street, in the
Bishopsgate
Bishopsgate was one of the eastern gates in London's former defensive wall. The gate gave its name to the Bishopsgate Ward of the City of London. The ward is traditionally divided into ''Bishopsgate Within'', inside the line wall, and ''Bishop ...
area of the
City
A city is a human settlement of notable size.Goodall, B. (1987) ''The Penguin Dictionary of Human Geography''. London: Penguin.Kuper, A. and Kuper, J., eds (1996) ''The Social Science Encyclopedia''. 2nd edition. London: Routledge. It can be def ...
, and moved its headquarters to that location.
[Arbuthnot Latham. 18 August 2021.]
Outside of its Central London footprint, Arbuthnot Latham currently has offices in
Gatwick,
Manchester
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...
,
Exeter
Exeter () is a city in Devon, South West England. It is situated on the River Exe, approximately northeast of Plymouth and southwest of Bristol.
In Roman Britain, Exeter was established as the base of Legio II Augusta under the personal comm ...
, and
Bristol
Bristol () is a city, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire to the north and Somerset to the south. Bristol is the most populous city in ...
. Until 2021, Arbuthnot had an international office based in the
International Financial Centre
A financial centre ( BE), financial center ( AE), or financial hub, is a location with a concentration of participants in banking, asset management, insurance or financial markets with venues and supporting services for these activities to t ...
in
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
. The closure of this office was partially attributed to the collapse in Arbuthnot's earnings as a result of the
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
.
Details
The bank is part of the "Arbuthnot Banking Group"
[Companies House] (previously known as Secure Trust Banking Group), which is quoted on the
Alternative Investment Market
AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...
(AIM); it was previously listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
. It offers banking, investment management and wealth planning services to both high net worth private individuals and commercial clients.
See also
*
List of banks
*
List of banks in United Kingdom
References
External links
*
Group websiteYouTube channel
{{Authority control
Banks of the United Kingdom
Arbuthnot Latham
Arbuthnot Latham & Co is a private and merchant bank based near Moorgate in the City of London. It has the status of one of the 12 accepting houses.
History
Arbuthnot Latham was founded on 13 May 1833 by Alfred Latham and John A. Arbuthnot at 33 ...
Banks established in 1833
Banks based in the City of London
1833 establishments in England
Banking in Great Britain
Organisations based in the City of London