The Manchester branch of a national private and commercial bank saw record growth in its fifth year – its balance sheet increased fivefold in that period – to £ 300 million.
The Arburthnot Latham City Office celebrates its fifth anniversary on Monday. Since its inception in 2016, the team has grown from a small satellite private banking office to 30 members in its 4,000-square-foot office on King Street.
The balance sheet has risen from just £ 20m in 2016 over this period, with customer growth in 2021 also pointing to another record year.
The company expects growth to continue – and is “determined” to hit £ 500m by 2026.
Andy Broughton, Northwest Office Director and Head, said, “It’s fantastic to celebrate our strong growth since we started five years ago. It is true proof of our brilliant team and our convincing offer.
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On the subject of matching items
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On the subject of matching items
“We really take the time to get to know our customers and understand their needs. This personalized service made possible by technology and expertise is what really sets us apart.”
“As the region continues to thrive, we will continue to grow and support it. There has always been tremendous wealth and innovation in the Northwest, but we expected a boom in 2016 and we were right.
The Manchester Arbuthnot Latham office
The Manchester team also includes Arbuthnot’s specialized finance and asset-based lending operations.
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Despite the challenges Covid posed, Arburthnot has won more clients so far in 2021 than it did in all of 2020, which was itself the busiest year in the office’s five-year history.
Looking ahead, Arbuthnot said the company will continue to invest in the private banking team and capabilities of the Manchester office, expanding the team across the region for both Arbuthnot commercial and specialty loans.
The company said the Manchester office has “ambitious plans to grow even faster over the next five years” – “to cement its position as a key contributor to the bank’s performance and progress”.
