UK private bank Kleinwort Benson has bolstered its Edinburgh office with the appointment of private banker Chris Arbuthnott.

Mr Arbutnott joins Kleinwort Benson from Arbuthnot Latham, where he spent three years as a private banker managing the financial affairs of both private clients and their families, and of charities. Prior to this he spent seven years at Reuters, latterly as business development manager with responsibility for the firm’s FX trading business across Europe, the Middle East and Africa.

“Whilst at Arbuthnot Latham, Chris managed a very diverse portfolio of high net worth clients and is experienced both in the entrepreneurial market and the equestrian industry.  Equally he has experience in both philanthropy and the management of trusts.  We have a strong team in Edinburgh and his appointment is proving to be the perfect addition to our Scottish base,” said Mark Hussein, head of Private Wealth Management at Kleinwort Benson.

Kleinwort Benson, which is one of the UK’s oldest private banking firms, has been put up for sale by its German parent, Commerzbank, as it moves to spin-off non-domestic assets. Commerzbank has received taxpayer funds from the German state and it must sell off such assets as a condition of receiving aid under European Union rules.

Commerzbank acquired Kleinwort Benson when it purchased Dresdner Bank from Allianz, the German insurance and financial services group, last year.