Top Ten HNW Wealth Managers
‘Times of crisis tend to be times of great opportunity to us,’ says Peter Gale. He tells Spear’s how in 2008, the UK’s oldest private bank proved itself as a ‘flight to safety’ for an influx of new customers. It’s a similar story with the coronavirus pandemic. ‘Whenever there’s uncertainty, we tend to do well,’ he adds.
Gale heads up one of the four private banking teams at C Hoare & Co, as well as overseeing the firm’s tax department, developing regional strategy and managing a small portfolio of his own clients. Over the course of 2019 – the first full year under new CEO Steven Cooper – the bank embarked on a number of exciting new initiatives, including the opening of a new Cambridge office in March. He reports that the bank has been ‘incredibly well supported and embraced by the intermediary network’ in the city.
The bank remains a ‘unique business’, Gale tells Spear’s. It ‘is ultra-conservative, the family has 100 per cent unlimited liability in the business so we have an ultra-robust balance sheet and high levels of liquidity and capital,’ he explains. It’s part of the reason the bank is well positioned to cater to the needs of entrepreneurs. ‘We understand the challenges they face,’ he adds.