Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Coutts director Simon Clark exits

Coutts director Simon Clark exits

Coutts investment director Simon Clark has resigned from the private bank, Wealth Manager can reveal.

Clark worked as an investment director in Coutts’ tailored portfolio services team and had been at the firm since 2011.

Prior to this, he worked at Barings as a private client manager, reporting to their former head of private clients John Maitland.

He also formerly worked at Brooks Macdonald as a director.

In March, Wealth Manager reported that staff at Coutts had been left reeling after learning their bonuses had beenslashed by up to 40% this year.

This figure proved much higher than the 15% fall in bonus payments at parent group RBS.

RBS recorded a pre-tax loss of £8.2 billion in 2013, while RBS Wealth – which includes Coutts and Adam & Co – saw its operating profit fall 10% to £221 million.

Earlier in the year, Coutts also named Arne Hassel as head of investments. He assumed the role from Gayle Schumacher, who moved into a different role within the firm.

The private bank also hired Credit Suisse Private Bank head of intermediaries Matthew Spencer.

Coutts declined to comment.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Play Europe bulls, a retail boost and why a little inequality can be a good thing

Europe bulls, a retail boost and why a little inequality can be a good thing

This week’s Investment Pulse looks at whether investors should be bullish on Europe, the surprise rise in UK retail sales and if a little inequality is a good thing.

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter