|SG Hambros Bank & Trust Limited|
|Phone:||+44 20 7597 3000|
|Fax:||+44 20 7597 3056|
|Address:||SG House, 41 Tower Hill, London EC3N 4SG, United Kingdom|
|Jobs:||, SG Hambros|
SG Hambros Bank & Trust Limited is a British bank. The bank which used to be named Hambros Bank.
The bank has offices in Bahamas, Gibraltar, Guernsey, Jersey and London and is part of the private banking division of the Société Générale Group.
The bank was established in London 1839, by the Danish affiliated trader and banker Carl Joachim Hambro as C. J. Hambro & Son. The bank was a specialist in Anglo-Scandinavian business with expertise in financial matters and investment banking. It had good connections to the Swedish Wallenberg family and its Stockholms Enskilda Bank. Carl Joachim Hambro was also a friend of the famous Danish writer, w:Hans Christian Andersen.
After merging with the British Bank of Northern Commerce (owned by Wallenberg) in 1921 the name was changed to Hambros Bank, and the firm expanded, so in 1926 a bigger head office was constructed at 41 Bishopsgate. The depression affected the bank's international business and it concentrated on domestic lending.
After World War II, Hambros became known as the 'diamond bank' with its thriving activity in financing the diamond industry and its trade. Hambros was one of the top three banks in the euromarket by the mid 1960s. In 1967 the private banking and trust operations were expanded offshore and new offices were opened in Jersey and Guernsey to take advantage of the offshore tax benefits.
The 1970s marked Hambros' expansion into new areas of financial services - in particular, asset management, investment management for third parties, investment funds and insurance. Another offshore private banking and trust operation was established in 1981 in Gibraltar to complement the offices in London, Jersey and Guernsey. Two years later in 1983, Hambros changed from its family based ownership.
By the mid 1990s Hambros decided to look for a partner in order to complement its business.
In February 1998 the Hambros board selected the French bank Société Générale and merged with it.
In November 1998, the Hambros core private banking activities were renamed SG Hambros Bank & Trust Limited. As well as the London, Jersey, Guernsey and Gibraltar operations, a subsidiary of Coutts Bank in the Bahamas also became part of the SG Hambros Group.
By the end of the decade Hambros had 1,300 staff, 900 of whom were based in London, where the head office is still based today.