UK-headquartered Kleinwort Benson has hired
Stephen Rothwell to head its wealth management division.

Rothwell, who previously headed business
development at Schroders Private Banking, will report
directly to Kleinwort Benson chief executive Sally
Tennant.

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Rothwell will also work with the bank’s
corporate advisory team in providing a range of services to
entrepreneurs.

Before joining Schroders, Rothwell was
responsible for UK private client business development at Merrill
Lynch Investment Managers.

 

Kleinwort Benson’s hiring
spree

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This month, the bank already made several
hires, including Marianne Kafena as head of strategic wealth
planning, John Boyce as chief technology officer and Danny Vogt as
chief operating officer.

In August, Kleinwort Benson also hired Jeremy
Brown as managing director to its private wealth management
division and Stephen Campbell as executive director.

 

Aggressive European
expansion

In June, Kleinwort Benson completed its £26.4m
($42m) acquisition of Close Offshore Group, which increased the
bank’s assets under management (AuM) by £1.6bn.

The acquisition also extended Kleinwort
Benson’s offshore reach with additional presence in the Isle of Man
and South Africa.

In July, the bank acquired family office
Karrig Strategic Capital and a 6-strong team headed by Paul
Kearney. The acquired entity formed a recently launched Kleinwort
Benson Private Investment Office unit.

AuM at Kleinwort Benson UK and the Channel
Islands, which includes Close Offshore Group, stood at £5.1bn as at
30 September.