Arbuthnot Latham, the boutique private bank, has revealed ambitious plans to grow assets under management to £1 billion within the next three years.

Speaking at their London headquarters, CEO James Fleming, said the bank was looking to lean more heavily on its lending capabilities, targeting a bigger share of the high-net-worth clients as tougher regulation and volatile markets dent investment in other returns.

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"We are looking to increase our AUM from £500 million to £1 billion by 2016 .We have just entered the Middle East, with an office in Dubai, and we’re looking to add further staff to our branches in Exeter and Manchester."

He added: "In recent months we have seem more interest in clients looking to borrow money, mainly as a result of the traditional lending market contracting."

Since being parachuted in from Coutts to revamp the private banking arm18 months ago, the CEO said the division has witnessed increased appetite from clients who are shunning away from the big global players. The aftermath of the 2008 recession left a bitter taste with many HNWIs, who simply do not trust the larger banks and do not feel they get the ‘one-on-one’ interaction.

Fleming said: "There has been more fluidity in the client market in recent years. Post crisis, the wealthy are looking for a second or third bank to expose themselves to less risk. The collapse of Lehman Brothers in 2008 came as a shock to many, and revelations of misselling, rogue traders and fines in the banking industry caused alarm."

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Celebrating its 180th birthday this year, the group is one of the few remaining independent banks in the UK. Its chairman Henry Angest, owns 53 % of the company, the rest is listed on AIM.