Hampden & Co teams up with Edinburgh Uni to probe links between personal finances and mental health

Edinburgh-based private bank Hampden & Co has announced that it is collaborating with the University of Edinburgh to explore the links between personal finance and mental health.

The bank said that the move is in reaction to data which shows that over three million people in the UK have both mental health problems and financial difficulties. Mental health problems make effectively managing money challenging, and those who have problem debt are much more likely to develop mental health problems.

Professionals drawn from the fields of health, advice, academia and financial services are coming together to explore the topic at University of Edinburgh Business School on November 14th, and to identify areas for future investigation and action.

Graeme Hartop, CEO of Hampden & Co, said: “There has been an increasing volume of attention paid to the challenges that people experience when they suffer from mental health problems, but I believe there is much more to be done to understand the role that finance plays, as well as much more to be done to reduce the difficulties faced by those who have these issues.”

Tina Harrison, Professor of financial services at University of Edinburgh Business School, added: “There is a significant body of research and activity in such fields as financial capability and financial literacy. The relationship between money & mental health however has room for a far greater level of understanding, and we aim to highlight some key current gaps in understanding by bringing people from across a range of different sectors together.”

Hampden & Co is an independent bank that opened in June 2015 to offer private banking facilities to High Net Worth clients, and their families.

The bank has offices in London and Edinburgh and is chaired by Ray Entwistle, the former CEO and Chairman of Adam & Co.