Deutsche Bank Private Wealth Management's Edinburgh office head Alan Aitchison and investment director Mark Hallam have left the firm, according to Citywire.

The publication said it understands that Aitchison and Hallam plan to join Quilter to open its new Edinburgh operation, which is set to launch over the next few months.

Aitchison had worked at Deutsche Bank PWM, formerly Tilney, since 2003. Prior to this he had a stint at Edinburgh Fund Managers. Hallam has also worked at Deutsche since 2003.

The report said Deutsche confirmed the  departures and said that replacements for both would be announced in due course. Quilter declined to confirm or deny the hires, the publication said.

WealthBriefing could not reach Deutsche or Quilter at the time of going to press.

Citywire recently said that Quilter, which is part of Morgan Stanley Smith Barney, may open an Edinburgh office, but the firm has declined to comment about the matter.