Scott had been hired in early 2009 to help Kleinwort grow its presence in Scotland and Northern Ireland, the publication said.

A spokesperson for Kleinwort Benson told WealthBriefing that the office had closed late last year and that all clients were aware of the change.

Later in 2009, Kleinwort Benson moved from St Andrew Square into a larger office on Charlotte Square in the Scottish capital. At the time, it said it needed extra space to accommodate more private bankers and support staff to service the "buoyant wealth management market" in the country.

Regional offices at Kleinwort Benson – which is now owned by investment firm RHJ International – were reviewed after Sally Tennant took over as chief executive last January. Offices in Manchester and Leeds, in the north of England, have also been closed.

“We are building our resources in investment talent and in IT and systems resources, the bulk of which is focused on our London headquarters and Channel Islands offices from where we service clients nationally and internationally.  Gordon Scott, head of private wealth management for Scotland, who managed our Edinburgh office, reluctantly decided to leave Kleinwort Benson.  Our small office in Edinburgh closed at the end of November 2011," a statement from Tennant said.