Private Banking: Old-School Rules


STANDING FIRM: CEO Alexander Hoare is one of seven family members who run the bank

Much has changed since Richard Hoare opened his bank under the sign of the golden bottle in London in 1672. Insignia have given way to street numbers. Amsterdam, London's great trading rival in the 17th century, has long been eclipsed by New York City. And much of Hoare's own competition has been gobbled up by bigger banks. Amid it all, Hoare's bank has remained unshakable. With a bottle still hanging outside its central London premises, the U.K.'s last family-owned private bank has stuck to what C. Hoare & Co.'s current CEO Alexander Hoare calls its "tortoise-like approach. We go plod, plod,...

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