🇬🇧C. Hoare & Co: UK's Oldest Family Bank Since 1672 — 12 Generations of One Family

Concept

C. Hoare & Co, or Hoares, is a British private bank founded by Sir Richard Hoare in 1672. It is the oldest privately owned bank in the United Kingdom and a rare example of banking continuity: the 12th generation of the Hoare family remains in management, and the bank is owned by eight direct descendants of the founder.

Hoares is important not for its scale, but for its model. It is a boutique private bank for UK-domiciled families, where personal relationships, conservative lending and family-office services matter more than a global platform. After selling its wealth management business to Cazenove Capital (Schroders group) in October 2016 and its investment dealing / custody business to Canaccord Genuity in March 2017, Hoares is no longer a full-service Swiss-style private bank.

🍓 Hoares is our choice for UK-domiciled families with a long history in Britain, for whom banking continuity, foundation services and conservative lending are important. For multi-jurisdiction and Asia / Middle East exposure, Hoares is not structurally suitable.

Status and Regulation

• Address — 37 Fleet Street, London, since 1690.
• Until 1929 — partnership; then private unlimited liability company. Owners bear personal liability for obligations.
• Primary supervision — PRA and FCA.
• UK deposits protected by FSCS up to £85,000 per depositor.
• Profit for the year to March 2025 — £63.7 million versus £80.8 million the year before; total deposits — £6.4 billion (C. Hoare & Co data).
• Regulatory profile is one of the cleanest among UK private banks: no major public enforcement actions in the last 20+ years.

What the Bank Does and Does Not Do

What it does

• Deposit-taking and current accounts.
• Lending against property and personal financing.
• Family office and concierge services.
• Foundation services and philanthropy.
• UK estate and succession planning through external advisors.

What it does not do

• Does not manage investment portfolios in-house like Pictet, UBS or Coutts.
• Investment management is typically outsourced to Cazenove / Schroders, JPMorgan, a Swiss partnership bank or external wealth manager.
• Does not provide brokerage and custody for large portfolios.
• Does not work with crypto and complex structured products.

Threshold and Onboarding

Hoares does not publish a formal minimum. According to industry analysis (Private Banks UK), a typical client has £1M+ investable assets, family-office tier starts at approximately £10M+.

Clean UK-resident case — 8–16 weeks; non-UK resident — 12–20 weeks. Hoares practically does not accept non-UK resident clients without strong British ties: property, family, business or long-standing UK presence.

Russian Client in 2025–2026

For Russia-origin clients, Hoares is one of the most conservative British options. The bank's small size and unlimited liability structure make reputational risk disproportionately important.

Workable scenarios

• UK-domiciled client with pre-2022 residency and multi-year UK presence.
• Inheritance from UK-resident parent or spouse.
• Clean professional with longstanding UK ties and introduction through established Hoares client.
• Comprehensive Source of Wealth with UK solicitor certification.
• Clean UK OFSI / EU / OFAC screening.

Where Hoares does not go

• Russia-resident in RF — standard refusal.
• Russia-origin UHNW without established UK presence — practically impossible.
• More realistic in such profile: Coutts, HSBC UK Premier or Swiss partnership banks.
• Any media or PEP sensitivity.
• Sectors with sanctions flag.

Cases from Practice

Multi-generational UK family

UK-domiciled client, £18M assets, three-generation history with the bank. Opened banking + foundation services. Investments through Schroders parallel mandate.

Inheritance from UK-resident

Russia-origin client with £6M assets from UK-resident parent. Introduction through UK solicitor, comprehensive probate documentation, passed compliance committee in 4 months.

Refusal due to non-UK profile

UHNW non-resident with £15M assets, primary residence Switzerland, without UK ties. Hoares refused at introduction stage. Redirected to Pictet and Coutts through UK relocation.

Where Hoares Is Appropriate and Where It Does Not Fit

Appropriate

• UK-domiciled multi-generational families with long British ties.
• Client who values 1672 founding, family ownership and continuity.
• UK property-focused UHNW with need for conservative banking and lending.
• Families for whom foundation services, philanthropy and governance are important.
• Clients who already have an external wealth manager.

Does not fit

• Non-UK resident without substantial British ties.
• Client who needs full-service wealth management within the bank.
• Multi-jurisdiction UHNW with active Asia / Middle East / US footprint.
• Russia-origin without established UK presence.
• Crypto or alternative-heavy portfolios.
• Situations where fast onboarding is needed.

Alternatives

Q/A

Why is the 2016 wealth management sale so important

Hoares deliberately narrowed its focus to banking and family office. Wealth management required scale, technology investments and separate regulatory capability — this fit better with Schroders / Cazenove. For a new client this means: Hoares can be a private banking relationship, but not the sole provider for portfolio management.

What does unlimited liability company mean for the client

The bank's owners bear personal liability without limit. This creates a strong conservative bias: risk management is built with the personal wealth of the owner family in mind. For the client this does not eliminate banking risks, but explains Hoares' caution in onboarding, lending and reputational exposure.

How does Hoares differ from Coutts

Hoares was founded in 1672 and remains a family-owned unlimited liability company. Coutts was founded in 1692, but is owned by NatWest Group plc and maintains full-service wealth management. Hoares is boutique banking + family office; Coutts is a broader UK private bank with Coutts Trustees, investment management and royal warrant.

What is needed for Source of Wealth

Tax returns for 3–5 years, bank statements for 24 months and documents on the wealth formation event: SPA and audit reports for business sale, probate documentation for inheritance, documents on multi-generational wealth. For Russia-origin — UK solicitor comfort letter, ICAEW accountant and character references. See Source of Funds.

How to get an introduction to Hoares

Through an existing client of the bank, UK solicitor with opening relationship, ICAEW chartered accountant or family office adviser. Cold approach through the website almost never leads to account opening. private.law works with two UK solicitors who have direct contact at the bank.

How is Hoares useful as part of an architecture

Long-term banking relationship with long family connection, access to conservative lending and family office services. Investments are outsourced to external manager. For a UK-domiciled family this is a two-element structure: Hoares for banking + Schroders / Pictet / Cazenove for investments.

What is the standard team per client

One senior banker, support officer and compliance contact. For family mandates, a foundation officer is added. The team is stable for years; banker changes on one family are rare.

Related Topics

• Coutts
• HSBC UK Premier
• Barclays Premier
• Pictet / Mirabaud
• UBS Global Wealth Management
• Julius Baer
• UK Residency and FIG Regime
• Private Banking
• Source of Funds

FAQ

Why is the 2016 wealth management sale so important

Hoares deliberately narrowed its focus to banking and family office. Wealth management required scale, technology investments and separate regulatory capability — this fit better with Schroders / Cazenove. For a new client this means: Hoares can be a private banking relationship, but not the sole provider for portfolio management.

What does unlimited liability company mean for the client

The bank's owners bear personal liability without limit. This creates a strong conservative bias: risk management is built with the personal wealth of the owner family in mind. For the client this does not eliminate banking risks, but explains Hoares' caution in onboarding, lending and reputational exposure.

What is needed for Source of Wealth

Tax returns for 3–5 years, bank statements for 24 months and documents on the wealth formation event: SPA and audit reports for business sale, probate documentation for inheritance, documents on multi-generational wealth. For Russia-origin — UK solicitor comfort letter, ICAEW accountant and character references. See Source of Funds.

How to get an introduction to Hoares

Through an existing client of the bank, UK solicitor with opening relationship, ICAEW chartered accountant or family office adviser. Cold approach through the website almost never leads to account opening. private.law works with two UK solicitors who have direct contact at the bank.

What is the standard team per client

One senior banker, support officer and compliance contact. For family mandates, a foundation officer is added. The team is stable for years; banker changes on one family are rare.

Key factual claims

• Clean UK-resident case — 8–16 weeks; non-UK resident — 12–20 weeks.