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Competition for deals is rife, says Brown Shipley banking head
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by Danielle Levy on May 27, 2014 at 00:01
He took the job at Principal after it was bought by South African giant Sanlam and during his time there the business grew assets from £780 million to £1.9 billion.
In the course of 2012 Titcomb decided it was time to take some time out after a 30-year spell in the industry, primarily in senior roles across private banking, fund administration and wealth management.
By the summer of 2013, however, he got itchy feet. After surveying a number of opportunities he took on the role at Brown Shipley, attracted to the bank’s heritage and proposition.
‘It was a name I knew from the past, but its profile in wealth management is quite low. I saw in Brown Shipley a combination of services and a client focus that made absolute sense to me,’ he says.
It certainly appears to be an interesting time for Brown Shipley as a business, having undergone some change over the past few years following the acquisition of its parent KBL group in July 2012 by Precision Capital, a Qatari-backed firm.
After an internal review at the end of 2012, the group reduced headcount and revised its growth strategy.
So far 2014 has also proved eventful, with Titcomb joining amid a board shake-up, which saw executive director and ex-cover star Robert Smoker and Robert Kitchen step down from the board. Smoker has since left the business after 40 years.
Chief financial officer Andrew Curran, while chief executive of Newcastle Building Society Jim Willens rejoined as a non-executive director. Titcomb, meanwhile, joined the executive committee.
More recently Kevin Doran also took on the mantle of chief investment officer, with Peter Botham changing role to develop a proposition for advisers.