Quilter to launch Edinburgh office

Wealth manager Quilter is planning to expand its presence in the UK with the launch of an Edinburgh office.

Citywire understands that Quilter is set to open the new office over the next few months and has hired a team to grow the business.

Quilter declined to confirm nor deny the move, although chief executive officer Martin Baines said: ‘Quilter is always looking for new opportunities to develop the business and we have continued to build our regional network.’

The new team is yet to be announced although speculation is mounting that members of Deutsche Private Wealth Management’s Edinburgh team, headed up by Alan Aitchison, could be in the running.

Quilter will become the latest wealth manager to enter the competitive Edinburgh market, following the most recent entrant, Cazenove, which acquired Thornhill back in December.

Following the announcement of that deal, Cazenove said it hoped Thornhill’s Edinburgh office would be its main focus of growth. The move came on the back of Brooks Macdonald and Ruffer both opening offices in the Scottish capital.

Elsewhere in the UK, Quilter has been hiring aggressively in order to build its presence in the wealth management space. In late August the firm recruited Julian Menges from Heartwood Wealth Management, representing its eleventh hire this year, to help lead its £500 million managed portfolio service.

Deutsche declined to comment.