FSA gives controversial Tory donor permission to launch private bank

The Financial Service Authority has given Tory Donor David Rowland permission to open a London branch of his private bank Banque Havilland.

The Sunday Times spoke to Rowland’s son Jonathan, who confirmed the bank planned to open an office in Mayfair.

Banque Havilland, which has offices in Monaco and Luxembourg, was formed in 2009 by the Rowland family’s desire to create a private bank they would want to bank with.

On its website it says: ‘The Bank is managed with the financial conservatism that has been the hallmark of the family. Banque Havilland will strive to offer the excellent and discreet service that they, as a high net worth family would expect from a private bank.’

Banque Havilland offers a range of services including wealth structuring and investment management.

Rowland - who made his fortune in the property market and has donated more than £4 million to the Tories -declined to take the post of Tory party treasurer in August 2010 amid controversial revelations about the way he conducted business.