Private banking head Jeremy Vaughan has stepped down from the board of Hampden & Co, following a governance review.
Vaughan remains at the business but is no longer a board director – a position he had held since April 2013. Hampden said Vaughan will not be directly replaced.
‘Following a review of board governance, some changes have been made to the size and composition of Hampden and Co’s board,’ a spokesperson confirmed.
The news follows the retirement of David Nabarro, a financier who worked in the City for close to 40 years, from the board last year. Like Vaughan, he has not been replaced.
Elsewhere, the private bank has hired Andrew Jackson from Duncan Lawrie as head of banking management. In the newly created role, he will be based in London.
Hampden chief executive Graeme Hartop said: ‘Andrew Jackson is one of private banking’s most respected and experienced practitioners, and it is testimony to the success of our private banking proposition that he wants to become part of our team.’
Meanwhile in Edinburgh, Hampden has also acquired second premises close to its existing base. This will house operational and administration teams.
Hartop (pictured) added: ‘We are expanding our headcount and our premises. We’ve come a long way in less than three years and we will be announcing further hirings shortly.’
Hampden’s decision to streamline its board follows a successful £15 million capital raise at the end of last year – with the majority coming from XL Catlin, Drake Enterprises and major shareholder Hampden, a financial services group.