This is the latest in a number of changes to the Coutts management structure, with this particular move seeing Schumacher leave behind her role as co-chief investment officer.
As head of the investment office she will be responsible for everything related to the actual investment management of client money, including the asset allocation and any investment decision-making processes.
The role she held as co-chief investment officer is still under review though more information is expected on this, as well as Schumacher’s new position, next week.
At the same time, Coutts has named Ian Ewart as head of products, services and marketing, adding Bryon Coombs’ responsibilities for products and services to his own marketing function following Coombs’ decision to retire from full-time management.
Under Ewart, the products and services division is being restructured to focus on four distinct activities: investment office/banking, treasury, credit and dealing/tax and wealth structuring/Coutts institute.
Simon Ridgers and Mark Evans will continue to manage banking, credit and dealing and Coutts Institute, respectively.
An announcement is expected shortly about a new head of tax and wealth structuring.
