Coutts, the wealth division of Royal Bank of Scotland, has appointed a new head of UK banking, replacing former head of UK banking, Mike Norfolk, this publication can reveal.

Coutts, the wealth division of Royal Bank of Scotland, has appointed a new head of UK banking, replacing former head of UK banking,
Mike Norfolk, who has left to join Australia's ANZ, this publication can reveal.

Stuart Newey joined Coutts in 2001 and has served in several
roles across its private banking and wealth management offerings. Most
recently, leading the charge on the firm’s business improvement initiatives,
implementing WMPP and re-engineering
critical business processes.

Norfolk
leaves Coutts after a 15 year career, during which he served in a number of
senior leadership roles, notably leading the firm’s regional expansion. This
includes roles as one of the heads of private banking, as well as a divisional
role, driving propositional change in the private banking segment.

Norfolk is set to take up a
new role as head of private banking Australia, with
Sydney-headquartered ANZ. In his new job, Norfolk
will assist with the firm’s current expansionary strategy to become a major
regional player and increase earnings by 25-30 per cent in the Asia Pacific
before 2017.

Commenting on the appointment, ANZ’s chief executive of
global wealth, Joyce Phillips, said that Norfolk
had a “proven track record” with private banking clients.

“We are focused on delivering a distinctive private banking
proposition and access to world-class investment capabilities, as well as
connecting clients to the significant wealth flows across the Asia Pacific
region,” she added.

Norfolk will be based in Sydney and will commence
his new role in early 2014.