Quilter drops Citi

WEALTH Management company Citi Quilter has dropped Citi from its name, following the launch of Morgan Stanley Smith Barney, a joint venture between Morgan Stanley and Citi.

Quilter said that the new branding had been introduced to provide clarity for professional advisers and affluent private clients in the UK who knew the Quilter name.

David Rothburn, head of Quilter’s Manchester office, said: “Quilter has a long history and tradition in investment management. We have undoubtedly seen a number of significant changes in that time but the most important aspects of our business have remained constant throughout.

“We continue to help clients achieve their own unique financial objectives and to offer an unrivalled personal approach to investment management through our Manchester office and our face-to-face contact with clients.”

 The joint venture, first announced in January, merges the wealth management arm of Morgan Stanley with Citi Group’s US and Australian brand Smith Barney as well as Quilter in the UK.

Quilter which has offices in Manchester and Liverpool, has around £4.8bn in funds under management, employs more than 300 staff across 10 offices in the UK, Jersey and Ireland and is a wholly-owned subsidiary of Morgan Stanley Smith Barney.