The UK private bank and investment firm Arbuthnot Latham Group said recent volatile markets had had a “minimal” impact on the trading of its banking operations, while it announced that the head of its securities arm had resigned. The banking subsidiaries – Arbuthnot Latham and Secure Trust Bank – achieved trading in the first four months of 2008 that broadly matched trading in the second half of 2007, Henry Angest, chairman and chief executive, said in the text of a statement given to the firm’s annual general meeting on Wednesday. Meanwhile, he said that trading within Arbuthnot Securities, the broking arm, was “adversely affected by market turbulence and reduced deal volume in the first quarter, but trading has improved since the end of March, and we have seen the return of some deal flow”. Mr Angest said that Mark Brown, who is chief executive of Arbuthnot Securities, was resigning from his post. Mr Angest said Mr Brown wanted to “relinquish his managerial responsibilities after four years as chief executive of Arbuthnot Securities”, but did not elaborate as to why. He said Mr Brown will remain as a managing director of the firm. His post will be filled by Neil Kirton, who has been deputy chief executive at Arbuthnot Securities for two years. “We are fortunate that we will be retaining Mark’s considerable talents within the business, and that we have a deputy of Neil’s calibre available to take over immediately,” he said. Earlier this year, Arbuthnot Latham reported a 39 per cent drop in full-year pre-tax profit and said it expected 2008 to be “challenging”. Pre-tax profit fell to £8.6 million ($16.73 million) in the year ended 31 December from £14.1 million, though profit before tax and one-off items increased by 13 per cent.