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Rathbones hires Coutts man for Newcastle office

Rathbones hires Coutts man for Newcastle office

Rathbones has bolstered its team in Newcastle with the appointment of David Stangroom from Coutts.

Wealth Manager understands that Stangroom joined the business as a financial planning manager.

Prior to Rathbones, he spent over seven years at Coutts as a director in specialist financial planning. There he was responsible for recruiting, developing and managing specialist financial planners and their support staff across the UK.

Before that he had stints at the financial planning arm of Co-operative Bank and at Standard Life in Manchester.

On his LinkedIn profile, Stangroom said: ‘I’m very excited at the opportunity to build and develop a financial planning team for the North of England and Scotland for Rathbones.’

Rathbones’ Newcastle office is headed by former Wealth Manager cover star Nick Swales, who was part of the team that established it back in 2013.

The team looks after just over £400 million of client money and is 14-strong, according to figures from October 2017.

Across the group, Rathbones’ assets under management reached £39.1 billion at the end of 2017, according to a trading statement published last week. The company saw market movements and net inflows of £2.1 billion over the period, up from £1.7 billion in 2016. 

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