Disposal
By the end of the decade Hambros had 1,400 staff, 900 of whom were based at 41 Tower Hill in London, where the head office is still based today. In February 1998 the Hambros PLC board recommended a sale of Hambros Bank Ltd to the French bank Société Générale, which the majority of the shareholders accepted. Chips Keswick was the prime promotor of the Société Générale takeover together with his Vice Chairmen Charles Perrin, who was the last CEO of Hambros Bank Ltd.
Hambros PLC, including the private equity and investment side, was later sold to Investec, a South African bank. 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.
Read more about this topic: Hambros Bank
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