12 July 2007

Allied Irish Bank (GB) has significantly strengthened its wealth management offer in the Midlands by signing an exclusive deal with leading investment specialists Brewin Dolphin.

The formal partnership, which will eventually be rolled out nationally, will see Allied Irish Bank (GB)’s high worth clients referred to Brewin Dolphin who will then provide an unrivalled bespoke investment management service.

The move comes just months after the launch of a new Private Banking service by Allied Irish Bank (GB) in the Midlands as it looks to build on its reputation as an award-winning business bank.

Headed by Gerry Hallahan at the bank’s regional headquarters at Temple Row, the Private Banking facility is a highly personalised service for the bank’s clients who are cash rich but time poor.

Brewin Dolphin is the country’s largest independent provider of private client investment management services in the UK and its full range of services, which are both advisory and discretionary, will be made available to Allied Irish Bank (GB)’s private banking clients as part of the deal.

Brewin currently manage more than £21bn on behalf of 100,000 private clients, charities and pension funds from its 37 regional offices and the partnership, which is a first for Birmingham’s wealth management sector, will elevate Allied Irish Bank (GB)’s position to one of the sector leaders according to John Wall, General Manager – North for the bank.

He said: “Over the years we have established a very strong reputation as a business bank but we decided this year that the time was right to launch private banking in the Midlands as the personal needs of some of our key clients were not being serviced by other institutions.”

“Brewin Dolphin is recognised as a market leader in its field so this partnership is a massive coup for Allied Irish Bank (GB) in our drive to secure our position at the top table of the increasingly competitive private banking sector.”

Stephen Jones, head of Brewin Dolphin’s Birmingham office, said: “We are extremely pleased that Allied Irish Bank (GB) has appointed Brewin Dolphin as investment manager for its top clients.”

“This partnership is the culmination of a long standing informal relationship between the two organisations, both on a professional and personal level, and a formal agreement is something that we have been looking at for quite some time.”

“Brewin Dolphin has a very similar national footprint to Allied Irish Bank (GB) and we hope that this relationship will prove to be a success and be rolled out across the whole country.”

Ends

Press release drafted by Alun Thorne. For more details please call Core Marketing, 0121 643 8151.