Member Article

Rathbones pledge commitment to invest in North East economy

Wealth managers Rathbones have pledged their commitment to the North East saying they will invest to help realise its potential, as they grow their own business.

The FTSE 250 discretionary fund managers say their move into the North East was encouraged by the hotbed of entrepreneurial activity happening in the region.

Since opening its Grey Street office last year, Rathbones has grown its North East managed funds significantly and the firm as a whole has recently announced its funds under management have grown to over £22 billion.

Clients of the firm include private individuals with personal wealth; charities and company pension funds; and entrepreneurs who are working towards selling an interest or company.

Rathbones’ national head of communications, Christopher Dean, says the firm’s plan is to grow its North East workforce and provide a particular type of discretionary fund management service, previously uncatered in the region.

He said: “Rathbones have doubled in size in the last ten years, and that is testament to our approach to managing money. For us the North East was an obvious gap in the market with some great entrepreneurs.

“We’ve taken on some big clients in the North East and its fast becoming a really important office for us. Our management team here is very ambitious, and it’s certainly our intention to grow the number of investment managers at the office.”

Nick Swales, regional director, added: “We understand the uniqueness of the region, which has excellent momentum in certain industries such as energy and digital.

“Rathbones is here for the long-term and we’re prepared to invest in the region to help it grow. Our ambition is to create an office here that will be around for multi-generations, just like the rest of the Rathbones business.

“In order to do that, we absolutely must play our part in the development of the local economy. Rathbones are very considered in their growth, and the opening of our North East office has been a big vote of confidence in the region’s economic ascent.”

The team are looking to public-private investment funds as catalysts in the regional recovery, and recognise that these investments will create wealth that needs servicing.

Tied with the commercial operations, Rathbones are currently running a financial awareness campaign for school children to improve skills and attract future wealth.

Christopher says the firm’s philanthropy is central to their operations - creating wealth in their communities makes good business sense.

This was posted in Bdaily's Members' News section by Tom Keighley .