Brown Shipley continues UK regional push with hire of top banker
Brown Shipley, the UK-based private bank, has hired a senior banker from rival Adam & Co for its Manchester office, as the latest in a string of moves to strengthen its regional footprint.
Richard Moore starts as banking services director in September. He will report to Robert Smoker, executive director responsible for Brown Shipley’s banking services for high net worth private clients.
Last week Brown Shipley announced the launch of a new Edinburgh office, and hired a team of two from rival Deutsche Tilney.
In April the bank announced a new Birmingham office, headed up by former Deutsche Tilney banker David Craig.
Robert Smoker said: "Richard’s appointment provides an exciting opportunity to significantly grow our banking business with clients and intermediaries around the country."
Somerled Macdonald, a partner at executive search firm Redgrave Partners, said in a story on eFinancialCareers that despite the gloom, millionaire households are increasing exponentially in the UK, and they’re not restricted to Chelsea and Fulham. This has lured private banks out of the City and into the provinces.
Enthusiasm for the provinces comes despite the fact that the average West Londoner has twice the amount of cash to spend than the average provincial Joe.
Expansion outside London spells recruitment, says Mark Somers of specialist wealth management headhunter, The Somers Partnership.
“There will always be strong demand for player managers who can gather assets as well as build and manage the team,” he said.
Brown Shipley also has client offices in London, Manchester and Leeds.
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