Exploring Newly Launched Family Offices Bank

Co-founder of UK-based Archie and Metro Bank, Anthony Thomson, has announced the launch of a new global bank – Family Offices Bank – which will cater to ultra-high net worth individuals (UHNWI).

In a video posted on LinkedIn, the entrepreneur states: “Does the world need another bank? I would say no, if it’s like all the other banks. But we intend to do something very different.” 

A digital approach

Family Offices Bank intends to bring a modernised approach to how family offices operate. The new method leverages artificial intelligence (AI) to create an experience that allows for seamless and tailored solutions for clients. 

Anthony claims that as part of his research, family offices around the world have evolved, with more complex needs that are not currently being met by their banks. Entering the age of AI means that banks around the world are catching up to the needs and demands of individuals, creating a bigger demand for the best AI solutions.

Some potential uses of the new technology include efficiently gathering data to inform financial decisions. Additionally, AI has streamlined data collection beyond what previous back-end capabilities have been able to – all as part of the need for a more structured and accelerated workflow in the banking industry. 

The Bank of England predicts that AI could introduce some risks to the UK financial system; however, a recent report from Accenture suggests that productivity gains through AI could increase by 30%. Some companies are currently using AI to collate data, which assists in making well-informed financial decisions for portfolio and risk management.

Built by experts 

Working alongside Thomson will be Samantha Bamert, who states that Family Offices Bank is “a bank that will, by design, deliver the service and solutions that meet the needs of family offices, their family members and UHNW clients.”

Samantha is currently a Non-Executive Director and Senior Advisor at Firenze. She is the Founding Director of financial advisory company Azurean, in addition to Founder and CEO of AskInclusive Finance. Her previous role as Head of Lending and Credit Product at Barclays Bank UK also uniquely positions her as part of the team for Family Offices Bank. 

Fellow co-Chair to Anthony at Archie and Chair of Firenze, Paul Pester, is also among the executives. He currently serves as a Non-Executive Director for the Bank of Bahrain. 

Paul was previously Managing Director of Lloyds TSB, Non-Executive Director of Visa and Managing Director for Santander UK before moving on to become CEO of Project Verde, finally becoming CEO of TSB Bank. His experience positioned him to become an Advisor to the Chancellor of the Exchequer and HM Treasury. 

Founding member and ex-CTO at Monument Bank, Sudip Dasgupta, has also commented that he is excited to “build something truly amazing”. He was also previously CTO for the Bank of London and the Middle East (BLME). 

Ex-CEO and Managing Director at the Bank of Queensland, Australia, Stuart Grimshaw, will also be part of the team. He has experience from his time as an Executive at the Commonwealth Bank of Australia. 

The team’s undisputed financial experience will aid in the international venture, as Family Offices Bank is currently expected to open in Jersey.

Stated in the same LinkedIn post, Anthony claims that his “world-class executive team” is one of the “most experienced teams to launch and deliver a new bank that anyone has had for many, many years”. He stresses that the new bank, which is not yet licensed, will include more international jurisdictions. 

Anthony Thomson previously co-founded Metro Bank UK, in addition to Atom Bank UK. Branching out to Australia, Thomson also established  Bank 86 400. He is currently Chair of UK, Australia and UAE-based FinTech company Archie, which he also co-founded. 

Another aspect of Family Offices Bank stressed by Anthony is the use of collective ownership by the bank’s clients. Family Offices Bank will be shared by its owners, allowing for a purpose-driven structure that will prioritise the needs of clients. Through shared ownership, the client's concern for the listing or acquisition of a bank is significantly reduced.

Fundraising amount?

The new Family Offices Bank is currently in its first round of funding, seeking to start with £100m (US$134m) for its Series A round. Fundraising is expected to last for the next five years, with a goal of £500m (US$672m) by the end. Family Offices Bank is expected to open in late 2026.