Ansbacher has sold its property finance business to Mitre Capital Partners, a property development financing vehicle supported by institutional investors. In a statement, the company said the disposal of this non-core business reflects Ansbacher’s continuing focus on developing its private banking and wealth management activities. Ansbacher will, though, continue to provide mortgage and other lending services as part of its private banking offering. Hugh Titcomb, Ansbacher’s group chief executive officer said: “Following a strategic review, we concluded the commercial property finance business did not fit into the overall objectives of the Ansbacher Group and the decision was taken to effect a disposal. Ansbacher is committed to developing its private banking and wealth management offering and the disposal of the Property Finance business will enable us to focus our efforts on these core activities.” London-based Ansbacher is Qatar National Bank’s wealth management and private banking subsidiary, operating in Switzerland, Channel Islands, Dubai International Financial Centre and Qatar Financial Centre.