In the latest instalment of our series looking into the motivations and passions driving heads of leading private banks, we talk to Hannah Buxton (pictured above), executive director at Coutts Private Office on her life within the private banking universe.
Why did you choose to go into the private office world?
My background is in maths, and I loved studying for my degree. I enjoy technical detail in what I do, but always make sure that it ultimately has a practical and useful application.
All that comes together in the private office world, and even more so in running a business within it.
However, our business also has a hugely human side to it, which means nothing is ever the same!
What do you love most about your job?
At Coutts, we have a client-focused senior management team, a great diverse team across the business with different skill sets and backgrounds, amazing clients, and a wonderful brand that has top quartile investment performance.
We have an award-winning banking service and the collective experience of hundreds of years of the opportunities and challenges private clients in the high net worth and ultra-high net worth space, allowing us to provide insight and guidance for clients, whether it’s about future generations or life post a business exit.
All of this means I can come into work each day and simply focus on how we can best deliver all of that to our private office clients – that’s a good job!
What is the next big thing for Coutts Private Office?
The rise of the fintech businesses challenge us to think creatively and differently about how larger businesses can be more agile and ensure we think forward about how our clients of the future might want to engage with us.
Banker or tanker?
Tanker: Illiquid securities – flexibility and liquidity are key
Banker: Quality equity income funds
Questions from the Wealth Manager audience
What is the single most common concern among your clients about where we are in the market at the moment?
We are late in the investment cycle, which means that we are seeing, and are likely to continue to see, pockets of volatility. This could be in reaction to any number of diverse events, from Italian politics to the strength of the dollar or trade tariffs.
Returning to more ‘normal’ levels of volatility is difficult for new and existing investors.
Have you ever had to turn down a prospective client?
Coutts is a bank that many aspire to be a client of, and some may approach us a little early in their journey.
But there are always ways for us to help and engage with those future clients and successful entrepreneurs by utilising all the support from the wider RBS group.
For example, The Espark hubs around the UK are hugely successful for budding entrepreneurs in helping them to realise their vision and passion.