Financial Results

Pre-Tax Profits Hold Steady At Adam & Co

Tom Burroughes, Editor, London, 15 April 2010

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Adam & Co, the Scottish-based private banking arm of Royal Bank of Scotland, held profits steady at £24 million last year, despite turbulence in financial markets and a record year in 2008, according to The Scotsman newspaper.

Managing director David Cathie reportedly said the company had proved "very resilient" despite a "difficult time" for the RBS group.

The bank was not immediately available to confirm the report's figures at the time this publication went to press.

He said Adam & Co, which has 9,500 clients and £1.5 billion under management, had "continued momentum" in 2010.

Pre-tax profits at Adam & Co for the year to 31 December stood at £24.2 million, compared with £24.3m made during a record 2008.

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