The boutique private banking firm has created the new role of commercial banking head, and appointed a former senior manager at Coutts to fill it.

Arbuthnot Latham, the UK private bank, has appointed former Coutts senior manager Stephen Fletcher as head of commercial banking, taking up his newly-created role with immediate effect. The move means that works with James Fleming, chief executive, who is also a former Coutts senior executive.

Fletcher has more than 25 years of commercial banking and wealth management experience in a number of senior roles. At Coutts & Co., he was managing director.

The bank said it will unveil other additions to its commercial banking business “within the coming months”. 

Arbuthnot Latham in July reported pre-tax profits of £3.7 million ($5.65 million) in the first six months of 2015, a surge of 111 per cent from the same period last year, while assets under management rose to £701 million at 30 June, from £566 million a year earlier. Customer loans stood at £584 million in the first half, up from £394 million a year before; customer deposits were £770 million, up from £589 million.