Private Scottish bank, Adam & Company, has entered into an agreement to provide the banking and administration services for Stewart Ivory Wealth Management, the private client business of First State Investments.
The deal covers £500m of Stewart Ivory funds, and will provide all wealth management clients with access to a full banking service.
First State chief executive Rob Adams says: "This relationship will deliver long term benefits to both Adam & Company and First State. More importantly, as our relationship develops, we expect our clients to benefit as well with easy access into a range of premium banking products.
"Our business is growing throughout the UK and in Europe and we are delighted to b commencing this close working relationship with a private bank that is clearly one of the best in the UK."