Bullish Coutts eyes Midlands expansion from new base
PRIVATE bank Coutts says it will expand its Midlands team with two new private bankers as it eyes opportunities in the region following its move into new offices in Birmingham city centre.
Speaking at the firm’s new premises on the 12th floor of 45 Church Street in the Colmore Business District, managing partner Joanna Thornell said the two would be in place within the next twelve months, and hinted the bank’s 40-strong team could be expanded further.
She said: “We will have two new private bankers join, one by the end of this year, and one next, with potentially further recruitment after that.”
“It’s important to bring the right people in. This is on the back of organic growth and looking after existing clients, but we’re also recognising more opportunities in servicing the non-resident Indian market, family businesses and the like.”
Coutts moved this week from Waterloo Street to the Standard Life Investments development in Church Street, which also houses Browne Shipley private bank, accountants Mazars and is the national HQ of the new £2.5 billion Business Growth Fund.
Ms Thornhill said: “We’ve been established in Birmingham since 1994 and due to continued success in the region , we have outgrown our offices at Wellesley House. Most recently we have seen the economic downturn encourage many wealthy individuals to seek wealth managers and investment specialists they can trust, and those with a proven track record.
“We are thrilled to be moving to Church Street and are committed to our clients in the Midlands. We believe this will allow us to further refine our client experience.”
Client partner Miles Plumb said the economic climate was impacting Coutts clients in different ways.
He said: “Some clients are seeing opportunities and others are sitting tight, but I get a sense of concern, rather than panic, and most clients seem to be doing well.”
The currency crisis in Europe and beyond was particularly focusing the minds of client, said Mr Plumb: “I would say people are thinking about decisions a lot more and factoring in currency fluctuations more than used to be the case, but it’s not stopping them making those decisions.”
