Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Arbuthnot's private bank drives 10% Q4 growth

Arbuthnot's private bank drives 10% Q4 growth

Arbuthnot Latham has reported strong growth in its assets under management for the fourth quarter, attributing the success to investments made in its private banking capabilities.

The firm’s assets under management swelled by 10% in the final three months of 2013, it confirmed in a trading update. Arbuthnot stated that it expected its pre-tax profits for the year to be in line with market expectations.

Arbuthnot’s retail arm, Secure Trust Bank, also reported that its 2013 profits were on track to meet analysts’ forecasts.

‘The Arbuthnot Banking Group and Secure Trust Bank trading statements confirm that well funded, well capitalised, small attacking banks can grow strongly as the major banks focus their business lines,’ commented Mark Thomas, an analyst at Edison Investment Research.

‘While there are no positive surprises in the trading statements, continued strong growth and payback for historic investments underpins their valuations.’

Former cover star James Fleming, chief executive at Arbuthnot Latham (pictured), told Wealth Manager last year that he was considering 'one or two' acquisition opportunities.

In early trading Arbuthnot shares slipped by 1% to £13.20 at 9am, having surged by 59% over the past year.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
1 Comment Play Citywire Scotland: how wealth managers use new tech

Citywire Scotland: how wealth managers use new tech

We caught up with a few wealth managers at our annual event in Gleneagles to find out what technological innovations they are employing across their businesses.

1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Read More
Wealth Manager on Twitter