There’s a trend of more Americans coming to the UK, a move that in some ways goes against a narrative of HNW individuals leaving the country.

Arbuthnot Latham, which in July launched its Global Direct Service that is aimed at US-connected investors living in the UK, sees strong opportunities in this space.

“There are lots of businesses setting up in the UK, particularly those from the US and they are often using the UK as their European or global ex-US base,” Andrew Grimes at Arbuthnot Latham, director, international private banking, told WealthBriefing in a call. “It is a kind of good news story for the UK.”

“As a bank, Arbuthnot Latham has been looking after US expats for some time. We saw the opportunity to do more and now have an investment offering that is attractive to American people in the UK,” he said. 

Grimes, who joined from Coutts about two years ago, said he had run the Americas desk for that bank, so he has over 20 years of experience of this client segment.

The Global Direct Service will be managed by the investment team responsible for the "flagship" Arbuthnot Latham investment service.

There is a trend of more Americans coming to the UK, a move that in some ways goes against a narrative of HNW individuals leaving the UK because of tax, sluggish growth and lifestyle. Some Americans want a British passport: In 2025 alone, 8,790 US citizens applied for citizenship, with record-breaking application volumes in the final quarter.

A question that always arises is how much choice US expats have, because they are taxed on a worldwide basis, contrasting with the territorial approach that most citizens enjoy. If Americans want to renounce their citizenship, it carries a cost.

“The UK has always had a steady flow of people coming here from the US and that number appears to have gone up significantly in the past couple of years,” Grimes said. “Helpfully for Arbuthnot Latham, working with US expats in the UK has always been a long-term plan for us.” 

There are many families who have US relatives and connections who, even if that is not their intention, come under the auspices of the IRS.

Grimes said that there are not many firms offering as broad a service to global Americans as Arbuthnot Latham. It can help in areas such as banking, lending on UK properties and providing investment services that recognise the tax and reporting requirements that global US citizens require.

This is a specialist field with several players. Examples include MASECO, which is in the process of being bought by US-based Creative Planning; W1M; Schroders (being acquired by US-based Nuveen); and Shard Capital. In 2010, new US tax compliance laws prompted some banks such as HSBC and Deutsche Bank to shut their doors to US clients, seen as a compliance burden. Membership groups such as American Citizens Abroad have also pressed US lawmakers in Washington DC to move towards residency-based tax and away from the worldwide tax regime. 

Getting a bit younger
Grimes said that since he started looking at this client cohort, the average age of US expats has become younger, some are in their 30s. Fifteen years ago, it was more likely to be those in their early 40s.

The new Arbuthnot Latham service offers direct ownership of global equities and government bonds, providing visibility of underlying holdings and lower costs compared with fund-based exposure. The portfolio invests across major developed markets, combining diversified exposure to global companies with a systematic approach to equity selection. Strategic long-term allocations are complemented by periodic adjustments to reflect market conditions, with portfolios tailored to each client’s risk profile and objectives. The minimum investment amount is £750,000 ($1 million).

The arrival of US expats “fits neatly into the Arbuthot Latham model: that is when we do things, we do it for the long term. We have been planning for this and have got people in place where we need them,” Grimes added.