Hampden Bank considers leaving Edinburgh ‘but it’s not a political thing’

An Edinburgh-based private bank aimed at high net worth clients has refused to rule out shifting its headquarters south of the Border.

Hampden & Co made the disclosure amid recent reports that its wealthy clients are nervous about the SNP’s drive for full fiscal autonomy and a second independence referendum.

However, the statements regarding the future location of the bank’s HQ came with an insistence that any move south would be not be motivated by politics.

Hampden, which was founded by veteran banker Ray Entwistle in 2011 is due to open for business soon, and Mr Entwistle said the bank has “absolutely no intention of racing into any kind of decision” on its HQ.

However, he did acknowledge that business owners opposed to a Yes vote in last year’s referendum may be finding the result of May’s general election, in which the SNP took 56 of the 59 seats in Scotland, to be a cause for alarm.

However, he insisted that the considering of a HQ flit for Hampden is “not politically motivated in any way”.

Those statements were echoed by the bank’s chief executive, Graeme Hartop, whose head office is close to Bute House, the official residence of the First Minister and SNP party leader Nicola Sturgeon, in the Capital’s Charlotte Square.

He said: “It’s not a political thing. Each business looks at what’s most appropriate for their own business and shareholders and clients. That’s just a natural part of business decision making.

“I think that is something that is always considered and it is no different at this time.

“You’ve got to always be aware of the surroundings of what you are working in.”

When asked what would be Hampden’s biggest concern if Scotland voted to become independent in a future referendum, Mr Hartop replied: “Essentially we just need to look at the entire landscape.

There is no particular area that we are saying is more concerning than the other.”