Schroders has expanded its private banking business, Schroders Private Banking, with the addition of two recruits to its London offices.

Andrew Clark, latterly a managing director at Merrill Lynch, has been appointed a member of the private banking executive committee and the board of Schroder & Co. He will be focused on overall business development in the UK and abroad, and will report to Rupert Robinson, chief executive of private banking London.

Guy Christie joins from Newton Investment Management, where he managed discretionary private client portfolios on behalf of private clients and trusts. He will have similar responsibilities in his new role as a senior client director at Schroders, managing discretionary portfolios for private clients, Schroders said in a statement. He will report to Kate Leppard, team head of relationship management.

Both appointments are effective from April 2010, a spokesperson told WealthBriefing.

“We are delighted that Andrew and Guy are joining Schroders. Their private client experience and proven track records will be a great addition to the team to help us realise our growth ambitions,” said Philip Mallinckrodt, group head of private banking.

The private banking business managed £12.1 billion (around $19.1 billion) in assets as at 30 September 2009.