By Scott Wright

HAMPDEN & Co has recruited a senior figure from Sainsbury’s Bank as it strives to develop the technology underpinning its services.

The Edinburgh-based private bank has hired Colin Tate as its new chief operating officer. He will succeed Stuart Alexander, who is retiring next month.

Mr Tate was most recently head of digital transformation at Sainsbury’s Bank, where he spent a decade of his career, and previously had spells at Accenture, Capgemini and PwC.

At Hampden he will be given responsibility for leading the bank’s technology strategy and business change programmes.

Graeme Hartop, chief executive of Hampden & Co, said: “Colin brings exceptional experience to the role of COO having worked for companies serving clients across a variety of industries.

“This is an important hire for the bank as we continue to build on the technology that underpins our service to clients.

“We look forward to Colin’s contribution in the months and years ahead. We also take this opportunity to thank Stuart for all his valuable contributions down the years.”

Mr Tate said: “Graeme and the team have grown the bank into one of the most exciting players in the UK private banking sector. With ambitious growth plans and a talented team, it’s a great time to be joining Hampden & Co and I look forward to helping to drive ongoing success at the bank.”

In April, Hampden & Co reported a statutory loss before tax of £4.1 million for the year ended December 31, compared with £5.5m the previous year. Income increased by 18 per cent to£10.2m. Speaking at the time, Mr Hartop said the bank had appealed to new and existing customers amid the pandemic.

He noted: “We are seeing high demand for our unique approach to private banking. As a consequence, we are keen to recruit talent with the capability to develop as our business continues its strong growth trajectory.”