Deutsche's Edinburgh wealth management boss quits

Deutsche Bank Private Wealth Management's Edinburgh office head Alan Aitchison alongside investment director Mark Hallam have left the firm.

Citywire understands Aitchison and Hallum are planning to join Quilter to open up its new Edinburgh operation, which is set to open over the next few months.

Aitchison had worked at Deutsche PWM, formerly Tilney, since 2003. Prior to this he had a stint at Edinburgh Fund Managers and has worked in the investment management industry since the mid-1970s.

Likewise Hallum has also worked at Deutsche, formerly Tilney, since 2003 and also joined from Edinburgh Fund Managers, according to the FSA register.

A spokesperson at Deusche confirmed Aitchison and Hallum's departures and said that replacements for both would be announced in due course.

Quilter declined to confirm or deny the hire.

Martin Baines, managing director of Quilter, said: 'Quilter is committed to building its business and is always looking for new opportunities to develop our strong regional network.'

The firm has been hiring aggressively in more recent times to build its presence in the wealth management space and will become the latest wealth manager to enter the competitive Edinburgh market, following the most recent entrant, Cazenove, which acquired Thornhill back in December.

The Edinburgh duo are not the only senior former Tilney staff to leave the firm after the expiration of their three-year lock-ins.

Earlier this summer Citywire revealed Brewin Dolphin had hired a team, headed up by Brian Price, to open an office in Shrewsbury.