UK wealth manager Kleinwort Benson has taken the next step in its regional development programme with the opening of its Cambridge office. It will be run by Michael Magnay, who has been with Kleinwort Benson for eleven years, managing discretionary and advisory portfolios for private individuals, charities and trusts. This opening follows the establishment of UK regional offices in Birmingham, Manchester and Newbury over the past 12 months. The Cambridge office intends to provide an extensive offering to local individuals, ranging from banking, fiduciary services and investment management advice to tax-efficient structured products, pensions advice and absolute return investments. Nigel Brown, founder of the NW Brown Group, has joined the Cambridge office, having retired in February 2007 from his position as chairman of his local financial services company. The office will also be the base of Katharine Kennedy who joins Kleinworts from Coutts.