Yesterday Wealthbriefing reported on Lloyds TSB’s move to set up centres for high net worth individuals and ultra-HNWs throughout the UK. We...

Yesterday Wealthbriefing reported on Lloyds TSB’s move to set up centres for high net worth individuals and ultra-HNWs throughout the UK. Well the theme appears to be taking off. Yorkshire and Clydesdale banks, UK subsidiaries of National Australia Bank are to roll-out millionaire centres in the UK. “We plan to open around 30 branches for wealthy customers throughout the South-east of England,” a spokeswoman for Clydesdale Bank told Wealthbriefing. With these kind of numbers, the bank is obviously going for the mass affluent market and the spokeswoman was a bit vague on exactly what minimum threshold would be needed to open an account at one of these branches. But Clydesdale is interested in getting millionaires to open accounts and are spending money on the new branches. Modeled on airport executive lounges rather than usual branches, they will offer private banking services and wealth management products to select customers. The bank plans early openings in wealthy cities such as Cambridge, Norwich and Cheltenham, as well as Canary Wharf in London.