First Minister Welcomes Leading UK Wealth Management Giant To Scotland

Kleinwort Benson’s decision to establish a permanent presence in Edinburgh is testament to Scotland’s strong financial services infrastructure and talent, First Minister Alex Salmond said today.

Speaking at Euro Finance Week in Frankfurt, the First Minister welcomed news that historic UK banking and infrastructure management company Kleinwort Benson has acquired new offices to accommodate additional private bankers and support staff needed to service the current buoyant wealth management market in Scotland.

Earlier this week the First Minister announced that leading wealth and asset management software solutions and services company, Odyssey Financial Technologies, is to open an office in Glasgow

First Minister Alex Salmond said:

“Kleinwort Benson’s decision to invest in Edinburgh is testament to the strong talent and infrastructure of Scotland’s financial services industry.

“I am delighted that Kleinwort Benson – one of the world’s leading wealth management companies – has demonstrated their confidence in Scotland’s financial services industry and the economy through investing in Edinburgh.

“Despite current economic challenges, Scotland continues to attract some of the biggest names in international finance and I welcome Kleinwort Benson’s plans to expand their operations here in Scotland.”

Mark Hussein, Head of Wealth Management at Kleinwort Benson commented:

“We have had a representative office in Edinburgh for several years and, having proved the market, we felt that we needed to acquire new offices to accommodate additional private bankers and support staff needed to service the current buoyant wealth management market north of the border.

“We see very considerable growth in the immediate future as the financial market here in Scotland has also recognised with the arrival of other well known investment houses recently. However, we have seen many major existing players have their brand equity eroded as much greater importance is now being placed on reputation and integrity, which have simply not been available from the wealth management divisions of large retail and investment banking institutions.”

Topics: bankers, banking, financial services, First Minister Alex Salmond, funding, Glasgow, Governance, government, infrastructure, Odyssey Financial Technologies, Scotland, technology, wealth management

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