Arbuthnot Latham

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Arbuthnot Latham & Co. Limited
Arbuthnot Latham
Formerly
  • Hume Corporation Limited (1964–1982)
  • Aitken Hume Limited (1982–1989)
  • Aitken Hume Bank Public Limited Company (1989–1994) [1]
Company type Limited company
Industry Financial services
Founded13 May 1833 (re-founded August 1994)
HeadquartersLondon, England
Key people
Products
RevenueIncrease2.svg £120 million (2022) [3]
Increase2.svg £137.4 million (2022) [3]
Increase2.svg £16.5 million (2022) [3]
Subsidiaries Renaissance Asset Finance
Website arbuthnotlatham.co.uk

Arbuthnot Latham & Co. Limited, trading as Arbuthnot Latham, is a British private and merchant bank headquartered in London, England. Founded in 1833, it has the status of one of the 12 accepting houses. [4]

Contents

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) in the City of London. Originally starting as a general merchant business, it soon began involving itself in finance and lending operations. [5]

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. It was at this time that Henry Angest joined the bank. [6] Shortly afterwards, Dow had sold Arbuthnot Latham.

By 1990, the business had had four separate owners [7] and the Arbuthnot Latham name had been retired. After successfully leading the management buyout 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. [8] In August 1994, Aitken Hume Bank was renamed Arbuthnot Latham & Co. [9]

Operations

Arbuthnot Latham focuses on three primary businesses practices: Private Banking, Commercial Banking, and Wealth Management. [10]

Private banking

Arbuthnot's Private Banking business is structured as follows: [11]

Arbuthnot Latham Manchester, which has a large private banking client book, grew its balance sheet from £20m in 2016 to over £300m in 2021. [12]

Commercial banking

Arbuthnot's Commercial Banking business is structured as follows: [13]

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, and Credit Suisse. [14]

Wealth management

Arbuthnot's Wealth Management business is structured as follows: [15]

In November 2020, Arbuthnot's Investment arm one WealthBriefing MENA Awards for Excellence "Best Private Bank – Discretionary Fund Management (DFM) Offering" award. [16]

Locations

For the entirety of its existence, Arbuthnot Latham (including its predecessor companies) have been headquartered in the City of London. From 2004 to 2014, Arbuthnot was based in Ropemaker Street; one of the former ‘rope walks’ that existed on the outskirts of medieval London. [17] The location Arbuthnot chose to base itself during this period was very close to the City's skyscraper, CityPoint. [18] In 2014, Arbuthnot Latham acquired the freehold of a property in Wilson Street, in the Bishopsgate area of the City, and moved its headquarters to that location. [19] [20]

Outside of its Central London footprint, Arbuthnot Latham currently has offices in Gatwick, [21] Manchester, Exeter, and Bristol. [22] Until 2021, Arbuthnot had an international office based in the International Financial Centre in Dubai. [23] The closure of this office was partially attributed to the collapse in Arbuthnot's earnings as a result of the COVID-19 pandemic. [24]

Details

The bank is part of the "Arbuthnot Banking Group" [25] (previously known as Secure Trust Banking Group), which is quoted on the Alternative Investment Market (AIM); it was previously listed on the London Stock Exchange. It offers banking, investment management and wealth planning services to both high net worth private individuals and commercial clients.

See also

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References

  1. "Arbuthnot Latham & Co., Limited overview - Find and update company information - GOV.UK". Companies House . 15 September 1964. Retrieved 13 February 2024.
  2. "Board of Directors". Arbuthnot Banking Group PLC. 3 July 2017. Retrieved 17 October 2021.
  3. 1 2 3 "Annual Report & Accounts 2022" (PDF). Arbuthnot Banking Group PLC. Retrieved 21 July 2023.
  4. "JSTOR". JSTOR   590996.{{cite journal}}: Cite journal requires |journal= (help)
  5. "Arbuthnot Latham History Timeline". Arbuthnot Latham. 18 August 2021. Retrieved 18 August 2021.
  6. "Merchant banks no longer rule the City but their influence hasn't gone". City AM. 14 November 2013. Retrieved 30 August 2021.
  7. City AM. 14 November 2013
  8. "Pembroke: Arbuthnot Latham prepares a comeback". The Independent. 14 November 2013. Retrieved 30 August 2021.
  9. "Certificate of change of name and re-registration from Public Limited Company to Private". Companies House. 3 August 1994. Retrieved 26 September 2021.
  10. "Arbuthnot Latham". Arbuthnot Latham. 4 August 2010. Retrieved 2 November 2021.
  11. "Arbuthnot Latham Private Banking". Arbuthnot Latham. 4 August 2010. Retrieved 2 November 2021.
  12. "Arbuthnot Latham's Manchester office reports record growth as balance sheet soars". Business-Live.co.uk. 17 May 2021. Retrieved 2 November 2021.
  13. "Arbuthnot Latham Commercial Banking". Arbuthnot Latham. 4 August 2010. Retrieved 2 November 2021.
  14. "Bank of the Year - Celebrating London's financial and business community and its most successful individuals and firms". City A.M. 18 November 2019. Retrieved 2 November 2021.
  15. "Arbuthnot Latham Wealth Management". Arbuthnot Latham. 4 August 2010. Retrieved 2 November 2021.
  16. "Winners Of WealthBriefing MENA Awards for Excellence 2020". WealthBriefingAsia. 10 November 2020. Retrieved 2 November 2021.
  17. "London's occupational streets: from apothecaries to wrestlers". The Street Names. 27 April 2015. Retrieved 17 October 2021.
  18. "Arbuthnot Latham & Co. Limited". Charity Financials. 1 April 2009. Retrieved 17 October 2021.
  19. Arbuthnot Latham. 18 August 2021.
  20. "Arbuthnot expands into new London HQ". Wealth Manager. 17 November 2014. Retrieved 17 October 2021.
  21. "Arbuthnot Commercial Asset Based Lending". Arbuthnot Latham. 18 August 2021. Retrieved 17 October 2021.
  22. "Locations". Arbuthnot Latham. 18 August 2021. Retrieved 17 October 2021.
  23. "United Arab Emirates". 26 May 2012. Archived from the original on 24 September 2020. Retrieved 17 October 2021.
  24. "Revealed: Arbuthnot shuts Dubai office as managing director exits". Wealth Manager/City Wire. 17 February 2021. Retrieved 17 October 2021.
  25. Companies House