A new challenger bank, Family Offices Bank, has launched in Jersey with ambitions to manage USD 10 billion in assets by 2030.
Founded by banking veterans Paul Pester, Anthony Thomson, and Stuart Grimshaw, Family Offices Bank (FOB) officially launched this month, targeting ultra-high-net-worth families with investable assets above USD 30 million. The bank aims to sign 2,000 global UHNW clients within five years.
FOB offers deposit, loan, and mortgage services initially, with plans to expand into AI-driven wealth products. The bank operates on an “evergreen shareholder” model, allowing clients to become long-term stakeholders. Expansion into Singapore is already planned, as the bank positions itself to capture the fast-growing Asian UHNW market.
Family Offices Bank, UHNW banking, Jersey private wealth