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Coutts Appoints New Head Of UK Banking As Former Departs For ANZ

Sandra Kilhof

11 December 2013

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 . 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.