The Scottish private bank, Adam & Company, has announced that Ray Entwistle has retired as chairman after a five-year stint in the role, this publication has learned.
Mr Entwistle’s term ended on 31 December and he is being succeeded by Miller McLean, previously general counsel and group secretary for RBS Group.
Adam & Co is the sister private bank to Coutts, the English firm that is one of several wealth management businesses owned by Royal Bank of Scotland.
Mr Entwistle has been part of Adam & Co since 1984.
Meanwhile, Simon Miller, chairman of the audit committee, steps down from the board and audit committee in February following 17 years of service.
The board will also be supported by a new advisory committee, chaired by Sir Sandy Crombie, RBSG's Senior Independent Director. This Committee will advise the Adam board and the senior management team on strategic matters together with acting as a conduit for market intelligence and client feedback.