We hold things. That is the whole business.
No lending against holdings, no trading, no wealth management. When custody is the only thing a company does, its incentives stay simple.
Not a bank, deliberately
Banks close deposit rooms. They did it through the 2010s across most of the high street, usually with three months notice, because the boxes earned less than the floor space.
We have no branch network to rationalise and no balance sheet that would rather be doing something else. Custody is not a side business here that a strategy review can end.
We also do not lend against what we hold. Your bullion is not collateral for anything, and cannot be rehypothecated, because we have no facility that would permit it.
On the record
- 1994
- Founded
- 4
- Court-ordered openings
- 10%
- Boxes reconciled quarterly
- 0
- Holdings lost
Threadneedle Walk
In thirty-one years
By an independent registrar
Since opening