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Top private banking figure joins Smith & Willamson

08/01/2018 News Team

Andrew Fisher, a seasoned private banking personality has become a non-executive director of Smith & Williamson (S&W).

He is regarded as a valuable addition to S&W, which later this year plans an IPO and a future as an independent wealth manager.

The firm, whose funds under administration are £15.6 billion, last year engaged in talks to merge with Rathbones and then Tilney but abandoned those negotiations in favour of a stock market quotation.

Mr Fisher is a former chief executive of Towry, which was sold to Tilney in 2016. A former CEO of Coutts & Co,  he recently stepped down as a director at C. Hoare & Co.

Apart from his private banking experience, Mr Fisher is a deal-maker in his own right. After building up Towry, he became significantly wealthier after the £600 million price Tilney paid for his firm.

S&W plans its IPO towards the end of this year once it has completed several projects, including upgrading its technology platform.

Bankers believe that the firm, once the IPO is complete, will be looking for strategic acquisitions as well as hires of top wealth management personnel.

Neither S&W or Mr Fisher were available for comment.

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