North West –
Manchester office enjoys record growth in its fifth year
- Balance sheet has grown nearly 15x in five years from under £20m to £300m
- Growth in client numbers in 2021 so far points to another record year
- Growth set to continue, with aspirations to build a £500m business by 2026
Arbuthnot Latham today celebrates the fifth anniversary of its Manchester office in a record year of growth for its North West operations.
The North West of England is a hub of innovation with a strong entrepreneurial culture and heritage, enabling it to attract and support countless successful business owners and wealth creators.
Recognising this growth potential, in 2016, Arbuthnot opened its first formal office in Manchester to serve private and commercial clients and made a significant investment in its offering and team.
Since then, the team has grown to a full private and commercial banking offering at its 4,000 sq. ft King Street office, which now hosts a team of more than 30.
This includes Arbuthnot’s Specialist Finance and Asset Based Lending businesses, which is also based in Manchester.
In line with Arbuthnot Latham’s national approach, the Manchester office provides its private and commercial clients with a holistic, bespoke and relationship-led approach to banking, supported by market-leading technology.
Despite the challenges presented by the pandemic, this compelling proposition has allowed the office to onboard more clients so far in 2021 than the whole of 2020, which had itself been the busiest year in the office’s five-year history.
Over the past five years, the office has been at the forefront of business in the North West, with Arbuthnot’s strong reputation in sectors including professional services, sports and media, as well as its considerable experience supporting entrepreneurs, positioning the bank perfectly to serve this growing market. The team also brings a tailored service to the historically underserved SME market, in addition to specialist banking expertise in areas such as the Court of Protection.
Looking ahead, Arbuthnot will continue to invest in the office’s private banking team and its capabilities, in addition to growing the team at both Arbuthnot Commercial Asset Based Lending and Specialist Finance throughout the region.
The Manchester office has ambitious plans to grow even faster over the next five years, cementing its position as a key contributor to the bank’s performance and progress.
Andy Broughton, Director and Head of the North West Office, said: “It’s fantastic to celebrate our strong growth since launching five years ago; it’s a true testament to our brilliant team and compelling proposition.
“We really take the time to get to know our clients and understand their needs and this personalised service, facilitated by technology and driven by specialist expertise, really sets us apart.
“As the region continues to flourish, we will continue to grow and be there to support it. There has always been huge wealth and innovation in the North West, but we expected a boom in 2016 and we were right. In just five years we have grown the balance sheet nearly 15x from under £20m to more than £300m, and by 2026 I am determined that we’ll be a £500m business in our own right.”
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