Profits rise 15% at investment management company Rathbones

Rathbones 'Newcastle office continues to go 'from strength to strength' with before tax profits rising almost 15%

Nick Swales of Rathbones on Grey Street, Newcastle
Nick Swales of Rathbones on Grey Street, Newcastle

Investment management company Rathbones, which has an office in Newcastle, boosted profit before tax by 14.8% to £44.2m last year.

Annual results for the period also show the firm’s total funds under management were £22bn at December 31, 2013, up 22.2% from the £18bn in 2012.

Nick Swales, head of the Newcastle office, said: “Our business in the North East continues to go from strength to strength and 2013 saw significant growth in our private client, trust and charitable funds under management. We strongly believe that clients are attracted to Rathbones by our ability to provide a personalised service and construct investment portfolios that reflect their financial circumstances. This approach is becoming increasingly rare amongst our peer group and we are benefiting from this.”

The board is recommending a 31p final dividend for 2013, compared to 30p the year before.

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