Schroders seeks chief for new arm

UK financial company Schroders is seeking a marketing director for its newly-launched pan-European private banking business.

The fund management company, announced on Monday that it is to expand into private banking across Europe.

The company will use the name Schroder & Co as its global private banking brand. The existing private client operations of Schroders in Switzerland, the Channel Islands, Germany and Italy will also be changing their name to Schroder & Co next year.

Schroder & Co is aimed at clients seeking a full private banking service with financial assets amounting to more than &£250,000.

A company spokesman says: “Though our private banking business accounts for only five per cent of our total business, we are looking at a dedicated marketing team to build the business. The marketing director for the business will look after private banking for the company across Europe, including the UK.” The marketing director will be based in the UK.

Schroders is expecting to build private banking teams in Spain, France and the UK. Regulatory approval is also being sought in Austria.

The new business is being launched with the support of a press advertising campaign, created by Lowe Broadway.

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