Quilter Cheviot chief executive Martin Baines (pictured) has said the firm has ‘genuine scope’ for regional expansion, and is looking into opening offices in Newcastle and Leeds.
‘There are some obvious gaps in the regional network. We don’t have an office in Newcastle and we do not have an office in Leeds at the moment, so there are a couple of large examples there,’ he said.
‘We have got spare capacity to build out around the existing infrastructure, so we have spare capacity in most regional offices to continue the growth.’
‘We have got genuine scope for expansion in the regions, it’s a core part of what we do.’
The merger of Quilter with Cheviot Asset Management at the start of 2013 helped assets under management grow to £15.8 billion at the end of June this year, almost double the £8.2 billion run by Quilter when the deal was agreed in November 2012.
The enlarged firm currently operates in 13 locations across the UK, Jersey and Ireland, and Baines highlights the success of the Salisbury office, which was opened in 2010.
‘Where we have opened in places like Salisbury we have been very successful,’ he said.
‘Salisbury has been one of the fastest growing parts of the business so it shows if you find good people, a good location and good geographic coverage it can be a success as well as just the larger cities.’