Lucy Connick has been promoted internally to its private banking team having joined the company’s client services team in February 2008 from HSBC International where she was a business specialist.
As well as offices in the UK, Isle of Man and Jersey, Fairbairn Private Bank has banking services available through specialist teams of staff in its South African and UAE representative offices.
The firm is gearing up for the UK Financial Services Authority’s retail distribution review (RDR) and ensuring the relevant staff satisfy the Office of Qualifications and Examinations Regulation-approved qualification to level six rather than the stipulated level four. Connick’s promotion is in part reward for her recently reaching level six of the Chartered Institute of Securities and Investment Private Client Investment Advice and Management (PCIAM) exams.
Although RDR currently only applies in the UK, many of the bank’s private banking staff, whether based in the UK, Isle of Man or Jersey office, are working towards a minimum level 6 qualification. It is anticipated these regulatory changes will be introduced in the Isle of Man and Jersey by January 2014.
Cameron Walker, head of relationship management at Fairbairn Private Bank, said: “We are dedicated to developing our client relationships and over the past 12 months we have considerably increased the strength and depth of the private banking team. There have been a number of new appointments and internal promotions, and over 60% of the team has already attained the level six PCIAM qualification.”
The firm has been forced into making several changes since October last year when head of private banking David Stearn left with chief investment officer to set up Affinity Private Wealth. Since then it has hired Robert Currie from Coutts as head of private banking as well as making several senior business development hires.
