Private bank celebrates 20 years in the region

PRIVATE bank and wealth manager Coutts has celebrated 20 years in the region with a reception for more than 200 clients and contacts in Manchester.

The bank, founded in 1692, and now part of the Royal Bank of Scotland Group, entertained guests with musicians from the Rotal Northern College of Music at the event at the University of Manchester’s Whitworth Hall.

The 30-strong North West team, led by Andrew Christie, were joined by leading figures from the bank including Alan Higgins, chief UK investment officer.

Mr Christie told TheBusinessDesk.com he was proud and pleased with Coutts’ progress in the region: “We started from scratch, and we now have a strong and growing client base in the North West, which is and remains an important region for us.

“About 10 years ago we invested in the Liverpool office, having already gone into Manchester, and we now have more than 2,000 customers.”

While Coutts’ clients are traditionally split into four demographics – old money, entrepreneurs, City of London-based professionals  and showbiz/celebrities – Mr Christie said the North West region is dominated by the entrepreneurial class.

“Our largest number of clients in this region are business owners, which says a lot about the vibrancy of this market place.

“Although during the recession they have generally pretty resilient, there is anecdotal evidence that there is more appetite among them to transact.”
 
He said the North West was strong and competitive market and added that Coutts is “always looking” to add quality to its teams.

Chief investment officer Mr Higgins, said his forecasts for interest rates are for gradual increase beginning the middle of 2015.

He warned though that the days of rates at 5% would be a “distant memory”.