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June 3, 2020

Brown Shipley gains new client director in London

By Patrick Brusnahan

Brown Shipley, a Quintet Private Bank, has appointed Ben Lamers as a client director in its London office.

Lamers will report to client director Michelle Coulson and be responsible for developing new client relationships alongside his team.

He brings experience of financial services that include 14 years at Julius Baer International, where was an executive director and senior private banker. His role involved advising HNW clients how to meet long-term financial objectives.

Prior to the Merrill Lynch and Julius Baer merger, he held various roles at Merrill Lynch including vice president and investment consultant.

Coulson said: “We are delighted to welcome Ben to Brown Shipley. The breadth of his experience in private banking and wide range of skills will be a great addition to our growing business and the delivery of our strategy.”

Lamers added: “I am excited to be joining Brown Shipley and look forward to drawing upon my experience to work alongside Michelle and the team to meet the wealth management needs of our clients.”

Brown Shipley and Quintet moves

In April 2020, Brown Shipley completed the integration of NW Brown & Co.

As a result, NW Brown’s Cambridge office will become Brown Shipley Cambridge and NW Brown in Norwich will convert into Brown Shipley Norwich.

This is a segment of Brown Shipley’s overall growth plan to add scale and uncover regional opportunities.

The acquisition was announced on 20 June 2019 and adds to Brown Shipley’s existing offices across the UK.

However, Quintet Private Bank registered a net loss of €44m in 2019 compared to a flat 2018, following acquisitions, investment in people, and costs related to a rebranding exercise.

The 2019 performance was hit by costs associated with the takeovers of UK-based NW Brown and Zurich-based Bank am Bellevue.

Quintet’s revenues for the 12-month period ended 31 December 2019 were €443.1m, in line with the previous year.

Group expenses increased to €470.5m in 2019.

Client assets at the end of December 2019 totalled €81.5bn, versus €72.6bn a year earlier.

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