Scoban, the new UK private bank, has taken up residence in the former Adam & Co building in Charlotte Square, signing a ten-year lease and putting refurbishment plans into action over the coming months.

Set up by former Adam & Co chairman Ray Entwistle, Scoban will reside at 22 Charlotte Square as a temporary head office, before finally relocating to 9 Charlotte Square as its permanent base once all refurbishments are complete.

In the summer, this publication reported on the firm’s £5 million ($7.8 million) second fundraising, in addition to the £1.4 million it had initially raised.

Scoban positions itself as offering a traditional style of private banking and has said it is looking at the possibility of accelerating its growth through acquiring another firm.