She will succeed Graeme Hartop, who is retiring after an 11-year tenure. Ms Davidson will officially join the bank in the autumn, coinciding with Mr Hartop’s departure.

Ms Davidson will join from Handelsbanken UK where she is deputy CEO, having joined from Barclays in 2003 to expand banking operations in the UK. She is also chair of Handelsbanken Wealth & Asset Management and a board member at the Personal Investment Management & Financial Advice Association (PIMFA).

Simon Miller, chair of the board at Hampden & Co, said: “We are delighted Tracey is joining Hampden & Co as our new CEO.

“She was the outstanding candidate in a very strong field and she is very well respected in the market, among peers and by clients and professional intermediaries.”

Mr Miller added: “Graeme has led the bank through launch to profitability with record levels of deposits, lending, and client numbers.

“We wish him great success in the next phase of life and thank him for his commitment, leadership and vision in building strong foundations for Hampden & Co.”

Ms Davidson said: “Hampden & Co has an excellent reputation for delivering a highly personalised banking service for clients, their families and businesses.

“It has significant ambitions for the future and I look forward to leading the bank to further success.”

In its recent full-year 2023 annual results, Hampden & Co announced client numbers increased by almost a fifth (19%) to a new high of 5,598. To meet demand from clients for a personalised banking service, the bank grew the number of employees by almost a quarter (23%) to 154.

Strong demand for borrowing saw total lending rise 9% to £488 million for the year. Deposits increased 8% to £858m, with term accounts seeing net inflows of £142m. The bank recorded a profit before tax of £9.1m in 2023, up from £2m in 2022.