The blue-blooded firm said it will continue to provide some investment services to products run by Overseas Trust and Pension, according to a statement yesterday.

Overseas Trust and Pension offers retirement, pension and trust solutions for international markets as well as products for jurisdictions such as South Africa, Spain and the Middle East.

“The high net worth and corporate business lines acquired from Close Brothers in 2011 were a strong strategic fit with Kleinwort Benson and have become core parts of our business,” Clive Wright, managing director of private wealth management, offshore, at Kleinwort Benson, said.

“However, the retail packaged trusts and pension plans, while recognised for their innovation and strong position in the market, are not an area of focus for us and for that reason, we have taken time to find a partner which is well-placed to continue to grow these business lines and deliver efficient service to clients.

New clients and advisors should be assured that the move would not affect operations, David Higgins, of Overseas Trust and Pension, said.