Arbuthnot to offer external funds
Arbuthnot Latham, the London private client boutique, is to adopt open architecture. Chief executive John Reed has revealed plans to transform the current offer of general banking and direct equity investment into a service encompassing a wide range of external fund management firms. The bank is hot on the heels of rival C Hoare, which late last year announced plans to launch its first multi-manager fund, providing clients with access to the skills of Northern Trust, Russell and SEI.
Mr Reed hopes the move will boost current assets under management of Ł600m (e880m) to around Ł1bn within three years. He also plans to recruit three relationship managers, each of whom he expects will add an extra Ł100m of client assets.

Clearstream to tailor processing services
Clearstream has come up with a new service aimed at solving the order processing problems of Europe’s funds industry. Clearstream has upgraded its existing Vestima service to offer tailor-made services to meet the needs of differing domestic markets. Bruno Zutterling, director of investment funds, Clearstream, said the service would enable fund distributors to select where they wished to settle and whether or not to use Clearstream’s centralised settlement and custody services. The service will be launched first in France and Germany this summer.

Danish manager selects Aberdeen to run Ł246m in equity funds.

Swiss manager said to be offering e215m for private client stockbroker.

Three factors gained credibility in 2003 for global private banking senior management: branding, client feedback and transparency. Senior management are now incorporating these elements when assessing the strength of their own business or when eyeing M&A targets.