Gatehouse Bank PLC

Reference number: 475346

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

In the full report: 3 background checks

  • When gatehousebank.com first appeared online, and whether it can receive email
  • What kind of line 020 7070 6000 is
  • Who else gives the postcode EC2M 2RB
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Other names (1)

If you were contacted under any of these names, it is this firm.

  • Milestone Savings Former trading name

FCA permissions and consumer protection

  • Hold or safeguard your money FSCS may apply
    Eligible deposits are typically protected by the FSCS up to £120,000 per person, per banking group.
  • Give regulated advice FSCS may apply
    A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
  • Manage or trade investments FSCS may apply
    Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
  • Arrange equity release FSCS may apply
    Mortgage advice and arranging may be FSCS-covered, up to the limit that applies.
  • Complaints Ombudsman, free
    You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Show FCA detail (15 permissions)
  • Accepting Deposits
  • Administering a home purchase plan
  • Advising on a home purchase plan
  • Advising on investments (except on Pension Transfers and Pension Opt Outs)
  • Advising on P2P agreements
  • Arranging (bringing about) a home purchase plan
  • Arranging (bringing about) deals in investments
  • Causing dematerialised instructions to be sent
  • Dealing in investments as agent
  • Dealing in investments as principal
  • Entering into a home purchase plan
  • Making arrangements with a view to a home purchase plan
  • Making arrangements with a view to transactions in investments
  • Managing investments
  • Sending dematerialised instructions

FCA disciplinary action

FCA action

fine
1
in fines
£1.58m
most recent
October 2022
  • Fined £1.58m on 14 October 2022
    The Financial Conduct Authority (FCA) has fined Gatehouse Bank Plc £1,584,100 for significant weakness in its financial crime systems and controls. Between June 2014 and July 2017 Gatehouse failed to conduct sufficient checks on its customers based in countries with a higher risk of money laundering and terrorist financing. Gatehouse also failed to undertake the correct checks when some of the customers were classed as Politically Exposed Persons (PEPs). In one instance, Gatehouse Bank set up an account for a company based in Kuwait to aggregate customer funds. Gatehouse Bank did not require the company to collect information about customers’ source of funds or wealth, which was required under Gatehouse’s anti-money laundering policies. As a result, over a two year period, Gatehouse accepted US$62,000,000 into the account without properly vetting the funds for financial crime risks. This example illustrates the risks of failing to have proper systems and controls. Gatehouse has subsequently taken significant steps to improve its financial crime systems and controls. Mark Steward, Executive Director of Enforcement and Market Oversight, commented: ‘Gatehouse Bank’s failures exposed itself to the risk that it might be used as part of a laundering process for illegal funds. While not deliberate, there can be no excuse for failures as serious as this. The FCA will continue to hold firms to account for poor anti-money laundering systems and controls.’ Here is the  link.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
06260053
Company status
Active
Company type
Public limited company
Incorporated
25 May 2007 (19 years old)
Registered office
The Helicon, One South Place, London, EC2M 2RB, England
Nature of business
  • Banks (SIC 64191)
  • Financial intermediation not elsewhere classified (SIC 64999)
  • Security and commodity contracts dealing activities (SIC 66120)
  • Activities auxiliary to financial intermediation not elsewhere classified (SIC 66190)

Directors and company secretaries

Name Role Born Appointed Other companies
Fahed Faisal Boodai Director Nov 1973 25 May 2007 1 other company
Gerald Gregory Director Apr 1955 10 Dec 2015 50 other companies
Abdulaziz Saud Albader Director Jul 1958 15 Feb 2017 None
Charles William Haresnape Director Jul 1958 8 May 2017 25 other companies
Danesh Paul Mahadeva Director Jun 1983 17 Aug 2017 4 other companies
Usman Ahmed Chaudry Director Jan 1977 29 Apr 2021 1 other company
Lesley Beecher Director May 1965 1 Apr 2023 None
Phillip Alexander Mclelland Director Sep 1966 29 Apr 2024 None
Mohammed Abdul Mohaimin Chowdhury Secretary Not published 1 Oct 2015 –

Other companies run by these 8 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
77
closed down
35
are FCA-registered
5

In the full report: all 77 companies, named

  • What each company does, and whether it is still trading
  • Which of these 8 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • The 5 on the FCA register, including one no longer authorised
  • The 3 companies these 8 directors run together
  • All 24 people who have ever been directors, with their dates
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Key dates in its history

Gatehouse Bank’s history from the FCA register and Companies House, newest first.

Key events (10) All events (54)

2024

28 January 2024

  • Kuwait Investment Authoirty Acting On Behal Fof The Government Of Kuwait stopped being a part-owner

Companies House

2022

22 December 2022

  • Changed its registered name from "Gatehouse Bank Plc"

FCA register

14 October 2022

  • Fined £1.58m by the FCA

FCA register

2016

7 April 2016

  • Kuwait Investment Authoirty Acting On Behal Fof The Government Of Kuwait became a part-owner (25–50% of shares)
  • Kuwait Investment Authority Acting On Behalf Of The Government Of Kuwait became a part-owner (25–50% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date
  • Regulated by the Prudential Regulation Authority from this date

FCA register

2008

21 April 2008

  • Regulated by the Financial Services Authority from this date
  • Became authorised by the FCA

FCA register

2007

25 May 2007

  • Incorporated at Companies House

Companies House

In the full report: all 54 events

  • All 54 events in its history (10 shown here)
  • Every director appointment and resignation: 40
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Firms connected to Gatehouse Bank

Other FCA-listed firms that share a director, phone number or address with Gatehouse Bank. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
3
share a director
1
share its postcode
2

In the full report: all 3 connected firms, named

  • How each is linked: shared directors (1), the same postcode (2)
  • Who links each one: the named directors, with dates
  • 4 past links through former directors
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Firms like Gatehouse Bank

Other firms of the same type (bank or building society), nearest first.

In London

Wells Fargo Bank, National AssociationLondonAuthorisedItau BBA International PLCLondonAuthorisedAdyen N.V.LondonAuthorisedCredit Suisse (UK) LimitedLondonAuthorisedUBS AGLondonAuthorisedDB UK Bank LimitedLondonAuthorised

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Gatehouse Bank

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 77 other companies its directors have run, named
  • 3 background checks on its contact details
  • All 54 events in its history
  • 3 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Gatehouse Bank PLC FCA authorised?
Yes, Gatehouse Bank PLC (FRN 475346) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since April 2008 and works as a bank or building society. The FCA has placed no limits on its permissions.
What is Gatehouse Bank’s phone number and website?
The FCA register lists the phone number 020 7070 6000 and the website gatehousebank.com for Gatehouse Bank. If you were given different contact details, use these to check with the firm before going any further.
Is Gatehouse Bank a scam or clone?
Gatehouse Bank is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.
Is my money safe with Gatehouse Bank?
It depends on the product, but eligible claims may be protected by the FSCS. You can also refer complaints about Gatehouse Bank to the Financial Ombudsman Service, free of charge.
Who owns Gatehouse Bank?
Companies House lists one person with significant control of Gatehouse Bank: Kuwait Investment Authority Acting On Behalf Of The Government Of Kuwait (25–50% of shares). Before that, it was controlled by Kuwait Investment Authoirty Acting On Behal Fof The Government Of Kuwait.
Who runs Gatehouse Bank?
Companies House lists 8 directors of Gatehouse Bank: Fahed Faisal Boodai, Gerald Gregory, Abdulaziz Saud Albader, Charles William Haresnape, Danesh Paul Mahadeva, Usman Ahmed Chaudry and 2 more.
How long has Gatehouse Bank been in business?
The company was formed on 25 May 2007, and has held its current FCA authorisation since April 2008.
Has the FCA taken action against Gatehouse Bank?
Yes. The FCA register records 1 fine in 2022, £1.58m in total. The details are in the disciplinary section above, with links to the FCA's notices.
Does Gatehouse Bank use any other names?
It has previously used the name Milestone Savings.

Sources and links

The full report on Gatehouse Bank PLC

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