CEO Corner: Arbuthnot Latham turns to Swiss for overseas ambition

Arbuthnot Latham is looking to launch an offshore arm as it gears up for growth under the leadership of new chief executive James Fleming.

The UK-based private bank is working on finding a Swiss firm to partner with, and Fleming (pictured) told Wealth Manager he hopes the business can begin to tap the overseas market.

‘We are very UK-centric and traditionally it has been that way. Right now we don’t have an offshore capability but that’s something we will put in place: an ability to back offshore clients overseas,’ he said.

Fleming joined Arbuthnot Latham in March from Coutts, where he worked first as head of international private banking and later as managing director of UK entrepreneurs, landowners and inpatriates.

Fleming said he was keen to create an overseas offering at Arbuthnot since he has more than a decade’s experience in international banking. 

He told Wealth Manager the climate of client dissatisfaction with big banks means the time is right to grow the business.

He is hoping the bank, which currently has £365 million in discretionary assets under management, can expand into the resident non-domiciled client space. Fleming is planning to appoint a new head of private banking to lead the charge, and will add more senior banking resource in the months to come.

‘Obviously it’s a difficult time in the industry and I think it’s a very good opportunity for a business of the size of Arbuthnot Latham to grow successfully and exploit that opportunity,’ he said.

‘And I think this is well underpinned by my views on the industry. Where there is an awful lot of turmoil, lots of concerned high net worth clients are looking for services and a lot of clients feel they are not getting that – those are the types of opportunities I see.’

Target clients are those with at least £500,000 in investible assets, and the ideal client would be one that used all of Arbuthnot’s services.