Safety and security of Fairbairn Private Bank
During these times of volatile stock markets,
low interest rates and general economic uncertainty, 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 the mindset of many clients has
become much more cautious and the quest to find a trustworthy bank
is their number one priority.
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, which reflects our "niche
position as an offshore private bank" as well as our "solid
financial fundamentals and very low risk profile". The Moody's
report, which is
available online, provides a strong, independent third-party
endorsement of the bank's solid financial position.
The bank does not undertake direct investments
on its own behalf and neither does it rely on borrowing funds from
the money markets. The bank has absolutely no debt servicing
obligations and maintains extremely high levels of liquidity. Our
balance sheet is well capitalised and is considered very low risk
as highlighted within the Moody's report.
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 and 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 organisation in its own
right. It remains our policy to limit the size of any fund
placement, whether that be with our parent or any other major
financial institution. This ensures that your clients' assets are
in safe hands and that the diversity of risk on behalf of your
clients remains extremely modest given the scale of our balance
sheet and reserves.
By way of further reassurance, we currently
hold the accolade of Best International Wealth Manager from the
International Investment Fund and Product Awards 2009. In 2010
we were also shortlisted for our discretionary investment
management service in the 2010 PAM Awards and for Best Private Bank
in the Financial Times and Investors Chronicle Wealth Management
Awards, which further reflect our dedication to putting your
clients' needs first.