About Fairbairn Private Bank
August 2009
Given the events over the past 18 months,
understanding a bank's financial strength has assumed major new
importance for clients. The widespread manner in which this
impacted large and small banks has meant that security and
trustworthiness are major factors in clients' minds.
Credit ratings are a recognised indicator of
the financial strength of an institution; however, clients should
only rely on them as a guide. At Fairbairn Private Bank we
use the Moody's rating designations, which issue both short-term
and long-term credit ratings. The issuance of our own
independent "A" (A3 P2) credit rating means that we are considered
upper-medium grade and subject to low credit risk, meaning that we
continue to operate as a secure bank. The Moody's report,
which is
available online, provides a strong independent third party
endorsement of this fact.
The uncertainty, which was at its height in
the second half of last year, has meant that clients are more wary
of their own financial institutions and question their bank's
financial stability. We can assure our clients that Fairbairn
Private Bank remains an extremely well managed and conservatively
run institution that has absolutely no exposure to the US sub-prime
mortgage market, which lies at the root of the current
difficulties. In addition, we do not borrow funds from the
money markets.
Fairbairn Private Bank takes its name from the
founder of its ultimate parent company, Old Mutual. Old
Mutual was originally founded in 1845 by John Fairbairn and it is
now a FTSE 100, Fortune 500 company which remains well capitalised
and enjoys a strong reputation across a number of subsidiary brands
including Nedbank in South Africa and Skandia in Europe.
Fairbairn Private Bank remains a highly
respected and profitable business and clients may rest assured that
their assets are in safe hands and that the care and attention they
receive will be amongst the very best in the industry. If
further reassurance is necessary, our recent award for Best
International Wealth Manager in the International Investment Fund
and Product Awards 2009 reflects our dedication to putting our
clients' needs first.