Arbuthnot plans to go on a hiring spree as it looks to launch a number of new businesses throughout 2018.
In a trading update, the firm said it ‘continues to explore opportunities to develop new businesses organically’ as it aims to diversify its sources of income.
It added: ‘The launch of such new businesses in 2018 will be supported by certain upfront investment, such as the hiring of additional teams.’
An Arbuthnot spokesperson said there will be no further details on the plans published until the company’s full-year results on 28 March.
The announcement comes after Arbuthnot said in October last year it is investing in infrastructure with a view to launching a commercial property fund.
Arbuthnot said that following positive feedback from investors it has decided to launch the fund under its commercial banking division.
The firm has also already been on a bit of a hiring spree, appointing Colin MacKenzie from Seven Investment Management as a director of investment management, based in its London office.
MacKenzie's appointment is alongside four other senior hires for the private bank.
The other appointments are Andy Rushmer for the newly created role of head of information and cyber security; Nick Bailey as managing director, business development; Nick Ellis-Calcott as business transformation director and Dean Moore as head of wealth planning.