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April 27, 2010updated 04 Apr 2017 3:54pm

Adam & Co posts £24m profit

Adam & Co, part of the private banking arm of Royal Bank of Scotland, held profits steady at £24m ($37m) last year. Pre-tax profits at Adam & Co for the year to 31 December were £24.2m, compared with £24.3m made in 2008. Managing director David Cathie said the company had proved resilient despite a difficult time for the RBS group.

By PBI Editorial

Adam & Co, part of the private banking arm of Royal Bank of Scotland, held profits steady at £24m ($37m) last year.

Pre-tax profits at Adam & Co for the year to 31 December were £24.2m, compared with £24.3m made in 2008.

Managing director David Cathie said the company had proved resilient despite a difficult time for the RBS group.

He said Adam & Co, which has 9,500 clients and £1.5bn assets under management, had continued momentum in 2010.

The firm was reported to have boosted client numbers by 5-10% in 2009 and plans to take on another 10 client-facing staff during 2010.

RBS Coutts is expected to announce its results next month.

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