Arbuthnot Latham has installed an 11-year Coutts and Co veteran to lead a regional expansion as it targets opportunities in underserved markets outside London.
Chris Reah (pictured) has been promoted to the group’s head of regional offices, where he will oversee the development of the firm’s Exeter, Bristol and Manchester locations.
The private bank has three regional offices outside its London headquarters currently, as well as an office in Dubai.
In addition Andy Broughton will head up Arbuthnot’s Manchester branch, which now includes an 11-person strong banking team.
Since arriving at the private bank in 2014 Reah has focused on developing Arbuthnot’s regional footprint and servicing the wealth management needs of its South West clients. In 2017 he led the expansion of the firm’s full private banking and commercial service, which included helping to set up a Bristol and Manchester office.
Prior to his career at Arbuthnot Reah worked as a wealth manager in Coutts’ Exeter location from 2003 to 2014.
Reah said the firm has seen strong client demand across its regional offering. Collectively assets under management, lending and deposits have doubled over the last two years, he said, while the client base has increased threefold.
Deputy CEO Stephen Fletcher agreed there is a clear gap in the market for banking services for regional small to medium sized companies.
“The SME market has been underserved by the banking sector, and this is particularly so outside of London,” said deputy CEO Stephen Fletcher. “We are making encouraging inroads as we execute our plans to ensure more UK SMEs can benefit from our ‘private banking-style’ relationship led offer.”
