Edinburgh boutique bank Hampden & Co has completed a £30mn lending takeover.
The loan book has been transferred from Smith & Williamson.
This follows Smith & Williamson’s decision to relinquish its banking license.
The company will now merge with Tilney, another wealth manager.
What does this mean?
Hampden will offer its new lending clients and increasing range of banking services. It has cited considerable interest from wealth managers since it announced the takeover a few months ago.