Arbuthnot Latham

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Arbuthnot Latham & Co. Ltd.
TypeLimited company
IndustryFinancial services
Founded13 May 1833 (re-founded August 1994)
HeadquartersArbuthnot House,
7 Wilson Street,
London EC2M 2SN
Key people
Andrew Salmon, CEO
James Cobb, CFO
Ruth Lea, Economic Adviser
Christopher Meyer, Non-Executive Director
Alan Yarrow, Non-Executive Director[1]
ProductsPrivate banking
Commercial banking
Wealth management
Investment management
RevenueIncrease £75.1 million (2018)[2]
Increase £68.4 million (2018)[2]
Increase £12.9 million (2018)[2]
SubsidiariesRenaissance Asset Finance
Websitewww.arbuthnotlatham.co.uk

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.[3]

History[edit]

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.[4]

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.[5] Shortly afterwards, Dow had sold Arbuthnot Latham.

By 1990, the business had had four separate owners[6] 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.[7] In August 1994, Aitken Hume Bank was renamed Arbuthnot Latham & Co.[8]

In July 2018, the company appointed Andrew Salmon as CEO.[9]

Operations[edit]

Arbuthnot Latham focuses on three primary businesses practices: Private Banking, Commercial Banking, and Wealth Management.[10] In addition to this, as of March 2021 Arbuthnot offers 'Bounce Back Loans' as part of the Bounce Back Loans Scheme (BBLS).[11]

Private Banking[edit]

Arbuthnot's Private Banking business is structured as follows:[12]

  • 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.[13]

Commercial Banking[edit]

Arbuthnot's Commercial Banking business is structured as follows: [14]

  • 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, and Credit Suisse.[15]

Wealth Management[edit]

Arbuthnot's Wealth Management business is structured as follows:[16]

  • 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.[17]

Locations[edit]

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.[18] The location Arbuthnot chose to base itself during this period was very close to the City's skyscraper, CityPoint.[19] 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.[20][21]

Outside of its Central London footprint, Arbuthnot Latham currently has offices in Gatwick,[22] Manchester, Exeter, and Bristol.[23] Until 2021, Arbuthnot had an international office based in the International Financial Centre in Dubai.[24] The closure of this office was partially attributed to the collapse in Arbuthnot's earnings as a result of the COVID-19 pandemic.[25]

Details[edit]

The bank is part of the "Arbuthnot Banking Group"[26] (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[edit]

References[edit]

  1. ^ "Board of Directors". Arbuthnot Banking Group PLC. July 3, 2017. Retrieved October 17, 2021.
  2. ^ a b c "Group of companies' accounts made up to 31 December 2018". Companies House. July 3, 2019. Retrieved September 26, 2021.
  3. ^ "JSTOR". JSTOR 590996. {{cite journal}}: Cite journal requires |journal= (help)
  4. ^ "Arbuthnot Latham History Timeline". Arbuthnot Latham. 18 August 2021. Retrieved 18 August 2021.
  5. ^ "Merchant banks no longer rule the City but their influence hasn't gone". City AM. 14 November 2013. Retrieved 30 August 2021.
  6. ^ City AM. 14 November 2013
  7. ^ "Pembroke: Arbuthnot Latham prepares a comeback". The Independent. 14 November 2013. Retrieved 30 August 2021.
  8. ^ "Certificate of change of name and re-registration from Public Limited Company to Private". Companies House. August 3, 1994. Retrieved September 26, 2021.
  9. ^ "Arbuthnot Latham Board of Directors". www.arbuthnotlatham.co.uk. Retrieved 2022-09-15.
  10. ^ "Arbuthnot Latham". Arbuthnot Latham. August 4, 2010. Retrieved November 2, 2021.
  11. ^ "Which banks offer Bounce Back Loans? – how to find a BBL lender". smallbusiness.co.uk. 2 March 2021. Retrieved November 2, 2021.
  12. ^ "Arbuthnot Latham Private Banking". Arbuthnot Latham. August 4, 2010. Retrieved November 2, 2021.
  13. ^ "Arbuthnot Latham's Manchester office reports record growth as balance sheet soars". Business-Live.co.uk. 17 May 2021. Retrieved 2 November 2021.
  14. ^ "Arbuthnot Latham Commercial Banking". Arbuthnot Latham. August 4, 2010. Retrieved November 2, 2021.
  15. ^ "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.
  16. ^ "Arbuthnot Latham Wealth Management". Arbuthnot Latham. August 4, 2010. Retrieved November 2, 2021.
  17. ^ "Winners Of WealthBriefing MENA Awards for Excellence 2020". WealthBriefingAsia. 10 November 2020. Retrieved 2 November 2021.
  18. ^ "London's occupational streets: from apothecaries to wrestlers". The Street Names. April 27, 2015. Retrieved October 17, 2021.
  19. ^ "Arbuthnot Latham & Co. Limited". Charity Financials. April 1, 2009. Retrieved October 17, 2021.
  20. ^ Arbuthnot Latham. 18 August 2021.
  21. ^ "Arbuthnot expands into new London HQ". Wealth Manager. 17 November 2014. Retrieved October 17, 2021.
  22. ^ "Arbuthnot Commercial Asset Based Lending". Arbuthnot Latham. 18 August 2021. Retrieved October 17, 2021.
  23. ^ "Locations". Arbuthnot Latham. 18 August 2021. Retrieved October 17, 2021.
  24. ^ "United Arab Emirates". 26 May 2012. Archived from the original on 24 September 2020. Retrieved 17 October 2021.
  25. ^ "Revealed: Arbuthnot shuts Dubai office as managing director exits". Wealth Manager/City Wire. 17 February 2021. Retrieved October 17, 2021.
  26. ^ Companies House

External links[edit]