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November 1, 2018updated 02 Nov 2018 11:57am

Standard Chartered Private Bank hires Coutts’ tax head

Standard Chartered Private Bank has hired Armando Rosselli from Coutts to serve as its head of wealth advisory and UK resident non-domiciled (UK RND) clients.

At Coutts, Rosselli was the head of tax and wealth structuring.

In the newly created role, he will be responsible to develop Standard Chartered Private Bank’s wealth advisory and non-domiciled client services.

He will directly report to Julian Davies, the bank’s head of private banking in UK and Jersey.

Rosselli, who started his career as a graduate at UBS, has more than 20 years of experience in the wealth management industry. He was previously also associated with Credit Suisse.

Armando said: “I am excited to join Standard Chartered; its footprint in Asia, Africa and the Middle East is where most of the world’s new wealth is expected to be generated.”

Earlier this week, Standard Chartered private banking business registered an income of $127m for the third quarter of this year, nearly the same it reported in the corresponding period a year earlier.

The bank said that ongoing trade tensions reduced investments thereby affecting its wealth management business.

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