C. Hoare & Co.
C. Hoare & Co. is a British private bank founded in 1672 and owned by descendants of its founder.
Last updated August 25, 2026
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Overview
C. Hoare & Co., commonly known as Hoares, is a British private bank whose origins lie in the goldsmith-banking trade of late-seventeenth-century London. Sir Richard Hoare established the business in 1672 after completing his apprenticeship and receiving the Freedom of the Goldsmiths' Company. The bank initially operated at the sign of the Golden Bottle in Cheapside, where shop signs served as practical identifiers before modern street numbering became common. In 1690 it moved to Fleet Street, a location associated with the bank for much of its history. The business developed during a period when London goldsmiths held customers' cash and valuables and began lending deposited funds for interest. This activity provided the foundation for deposit-taking, payments, and credit services. Richard Hoare was knighted by Queen Anne in 1702 and became Lord Mayor of London in 1712. After his death, his sons Henry and Benjamin continued the enterprise. During the eighteenth century, Hoares served both institutional and private clients, including the Society for the Propagation of Christian Knowledge and members of the landed and intellectual elite. The bank later became associated with figures such as Samuel Pepys, John Dryden, and Jane Austen, although its modern customer base is principally composed of high-net-worth individuals and families. The eighteenth-century partner Henry Hoare, known as “The Magnificent,” helped shape the bank's culture and reputation. He was a major patron of the arts and developed the Stourhead estate in Wiltshire. During his long association with the firm, Hoares introduced innovations including printed cheques, contributing to the development of more formal banking practices. The nineteenth century brought both institutional change and serious internal difficulties. The bank's premises at Fleet Street were rebuilt in 1829 as a combined banking house and private residence. In 1825, an employee, William Christmas, embezzled money from the bank, an episode that illustrated the risks inherent in a partnership-based institution even though the loss was covered through a fidelity bond. The Bank Charter Act 1844 accelerated the disappearance or consolidation of many private banks, but Hoares survived. Following the departure of Charles Hoare, however, unsuccessful speculation, weak management, and disagreements among senior partners placed the business under considerable financial pressure. The bank recovered during the early twentieth century. After the First World War, most remaining private banks were absorbed into larger institutions, leaving Hoares as the only surviving independent bank of its type in Britain. In 1929, the partnership was reorganized as a private unlimited-liability company whose partners were also the sole shareholders. During the Second World War, employees evacuated the Fleet Street offices after air raids, and a fire threatened the historic building. The premises were saved through the efforts of staff and local air-raid personnel. C. Hoare & Co. remains a family-owned private bank. Its core services include private banking, lending, mortgages, and savings accounts. The bank has branches at 37 Fleet Street and 32 Lowndes Street in London. It has also reshaped its activities in the twenty-first century by selling its wealth-management operation to Cazenove Capital Management in 2016 and its investment-dealing and custody business to Canaccord Genuity Wealth Management in 2017. The institution continues to emphasize long-term relationships, discretion, personal service, and continuity across generations.
History
C. Hoare & Co. traces its foundation to 1672, when Sir Richard Hoare completed his apprenticeship, received the Freedom of the Goldsmiths' Company, and opened a business at the Golden Bottle in Cheapside. The enterprise belonged to the developing London goldsmith-banking tradition. Goldsmiths safeguarded money and valuables for customers and increasingly lent deposited funds, creating the basic infrastructure for deposit banking and credit. In 1690, Hoare moved the business to Fleet Street. The location became central to the bank's identity and remained its principal home for centuries. Richard Hoare's public career reinforced the firm's standing: he was knighted by Queen Anne in 1702 and served as Lord Mayor of London in 1712. After his death, his sons Henry and Benjamin continued the firm. In 1711, the Society for the Propagation of Christian Knowledge opened an account, and several early customers were associated with religious, intellectual, and philanthropic circles. The eighteenth century was a period of expansion and institutional development. Henry Hoare, one of Richard's descendants and a partner for almost six decades, became the most influential family figure of the era. His wealth and patronage earned him the nickname “The Magnificent.” He was associated with the creation and development of Stourhead in Wiltshire and helped establish the cultivated, discreet character later associated with the bank. Under his direction, Hoares introduced printed cheques, an important practical innovation in the evolution of British banking. The firm entered the nineteenth century with a reputation for confidentiality but also encountered operational and governance challenges. In 1825, employee William Christmas stole £1,000 to support a relationship with actress Louisa Chatterley. He was sentenced to transportation to Australia, while his father was required to meet the fidelity bond connected with his employment. The Fleet Street premises were rebuilt in 1829 to combine banking facilities with a private residence. The Bank Charter Act 1844 caused many private banks to disappear or join larger institutions. Hoares survived this wave of consolidation. After Charles Hoare left the business, however, the bank suffered from speculative losses and poor management by senior partners Henry and Peter Richard. Their alternating six-month periods of control, combined with family disagreements and the financial unreliability of some successors, placed the bank's survival at risk. The nineteenth century therefore became both a test of the partnership model and a formative period in the bank's later preference for conservative, relationship-based banking. The business regained stability during the early twentieth century. Following the First World War, most surviving private banks were absorbed by larger competitors, but Hoares remained independent. In 1929, the partnership was converted into a private unlimited-liability company, with the partners as its only shareholders. The arrangement preserved family control while giving the bank a more formal corporate structure. The Second World War posed a physical threat to the Fleet Street headquarters. Employees evacuated the offices during air raids, and a fire endangered the historic building. The premises were reportedly saved through the efforts of staff and air-raid personnel, including Bertram Hoare, who served as a local air warden. In 1987, Alexander S. Hoare represented the eleventh generation of the family to manage the institution. In the twenty-first century, C. Hoare & Co. combined its historic private-bank identity with selective restructuring. Jeremy Marshall became the first non-family executive leader in 2009, followed by David Green in 2016 and Diana Brightmore-Armour in 2021. The bank sold its wealth-management business to Cazenove Capital Management in 2016 and its investment-dealing and custody business to Canaccord Genuity Wealth Management in 2017. Rennie Hoare became a shareholding partner in 2018. The bank continues to operate from London branches at 37 Fleet Street and 32 Lowndes Street, serving primarily wealthy individuals and families through lending, mortgages, savings, and private-banking relationships.
- 2018
Rennie Hoare joins shareholder partnership
[1]Rennie Hoare became a shareholding partner after leading the bank's philanthropy activities.
- 2017
Investment dealing and custody business transferred
[1]The investment-dealing and custody division was sold to Canaccord Genuity Wealth Management.
- 2016
Wealth-management business sold
[1]The bank sold its wealth-management business to Cazenove Capital Management, owned by Schroders.
- 2009
First non-family executive leader
[1]Jeremy Marshall became the first non-family member to hold the bank's top executive position.
- 1987
Eleventh family generation takes a management role
[1]Alexander S. Hoare represented the eleventh generation of the founding family to manage the bank.
- 1929
Conversion into a private unlimited-liability company
[1]The partnership was reorganized as a private unlimited-liability company owned by its partners.
- 1844
Survival of the private-bank consolidation wave
[1]Hoares remained in business as the Bank Charter Act contributed to the disappearance of many independent private banks.
- 1829
Fleet Street premises rebuilt
[1]The bank's Fleet Street premises were reconstructed as a combined banking house and private residence.
- 1711
Institutional banking relationship established
[1]The Society for the Propagation of Christian Knowledge opened an account with Hoares.
- 1702
Richard Hoare is knighted
[1]Founder Richard Hoare was knighted by Queen Anne.
Products and positioning
A highly selective, relationship-led private bank distinguished by exceptional longevity, family ownership, discretion, and service to wealthy individuals and families.
Banking service
Private banking
The bank's central offering is relationship-led private banking for high-net-worth individuals and families. Service is built around personal contact, discretion, tailored financial arrangements, and continuity across generations rather than mass-market distribution.
Lending
Loans and mortgages
C. Hoare & Co. provides lending facilities that include personal loans and mortgages. These products form part of its broader private-banking relationship and are intended for clients whose borrowing needs may require individualized assessment.
Deposit banking
Savings accounts
Savings and deposit accounts are part of the bank's traditional banking offer. Deposits are also an important source of the institution's banking income and support its lending activities.
Investment services
Wealth management
The bank formerly operated a wealth-management business, but this activity was sold to Cazenove Capital Management in 2016. It is therefore no longer identified as a core in-house offering.
Investment services
Investment dealing and custody
C. Hoare & Co. previously offered investment dealing and custody services. The division was transferred to Canaccord Genuity Wealth Management in 2017 as part of the bank's business reorganization.
Brand decisions
2018
Broadening the family partnershipStrategyBackground
The family-owned bank sought to combine its long institutional continuity with perspectives associated with younger generations.
Action taken
Rennie Hoare, formerly head of philanthropy, was appointed a shareholding partner.
Aftermath
The appointment reinforced family participation in ownership and governance while signaling an effort to introduce newer thinking into the business.
2017
Transfer of investment dealing and custody activitiesM&ABackground
Following the sale of wealth management, the bank also reorganized its investment-services activities.
Action taken
The investment-dealing and custody business was sold to Canaccord Genuity Wealth Management.
Aftermath
The transaction further narrowed the bank's operating scope around private banking, deposits, lending, and mortgages.
2016
Sale of wealth-management businessM&ABackground
The bank reviewed the scope of its activities while maintaining its historic private-banking focus.
Action taken
It sold the wealth-management business to Cazenove Capital Management, a Schroders-owned company.
Aftermath
The transaction reduced the bank's direct involvement in wealth management and concentrated its business more closely on private banking and core banking services.
Recent events
- 2025
C. Hoare & Co. reports lower annual profit amid continued deposit growth[1]
Other
For the year ending March 2025, the bank reported profit of £63.7 million, compared with £80.8 million in the prior year, while total deposits reached £6.4 billion.
- 2021
Diana Brightmore-Armour becomes chief executive[1]
Leadership change
Diana Brightmore-Armour, whose prior career included Lloyds Corporate Banking and Coca-Cola, became chief executive.
- 2018
Rennie Hoare becomes a shareholding partner[1]
Leadership change
Rennie Hoare, previously responsible for philanthropy, joined the shareholder partnership in a move presented as bringing newer perspectives into the family bank.
- 2017
Hoare & Co. transfers investment dealing and custody business to Canaccord Genuity[1]
M&A
C. Hoare & Co. disposed of its investment-dealing and custody operation to Canaccord Genuity Wealth Management.
- 2016
Hoare & Co. sells wealth-management business to Cazenove Capital Management[1]
M&A
The bank transferred its wealth-management business to Cazenove Capital Management, a Schroders-owned firm, as part of a narrower focus on private banking.
- 2009
C. Hoare & Co. appoints Jeremy Marshall as first non-family executive leader[1]
Leadership change
Jeremy Marshall, formerly head of Credit Suisse Private Bank, succeeded Alexander S. Hoare in the bank's first executive leadership appointment from outside the family.
Sources3 sources
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