View the article online at http://citywire.co.uk/wealth-manager/article/a754877
Coutts’ Morley: why we are reviewing every investment since 1957
by James Phillipps on Jun 05, 2014 at 11:19
Despite this, he does not expect the exercise to stunt growth in the short-term and backs the review to ultimately help attract and retain assets.
‘In the UK we are looking to lead the market in private banking and wealth management. I sense that by going back to clients and ensuring that the advice is based on their needs, we will build trust and this will help grow the business,’ he said.
‘This particular year the wealth managers have their hands full, but the private bank carries on as normal.’
Coutts split wealth management and private banking roles as part of a revamped Wealth Management Advice Service, which was launched in November 2012.
Morley sees the potential for growth on several fronts, including its lending facilities and building its market share in both the resident non-domiciled and small and medium-sized enterprise markets.
Lending is up 35% year to date and parent group Royal Bank of Scotland is looking to offer a more integrated service to the small and medium-sized enterprise market in which it has a 30% market share. This will see the executives of these client firms offered private banking through Coutts.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
More from us
- Coutts issues suitability warning to all UK clients
- FSA fine may be ‘only the beginning’ for Coutts
- Barclays fined £7.7 million for Aviva fund sales failings
On the road
on Aug 01, 2014 at 10:58