Adam and Company

Adam and Company is a wealth management company based in Edinburgh, Scotland offering discretionary investment management and wealth planning services to high-net-worth clients in the UK.

Adam and Company
TypeTrading division
IndustryWealth management
Founded1983
HeadquartersEdinburgh, Scotland, UK
ProductsFinancial services
Number of employees
<100
ParentCanaccord Genuity
Websitewww.adamandcompany.co.uk

Founded in 1983, it is named after Adam Smith, a leading figure of the Scottish Enlightenment era who revolutionised economic theory in 1776 with the publication of An inquiry into the Nature and Causes of the Wealth of Nations.

In 2021, the business was acquired by Canaccord Genuity Group through its UK wealth management business, Canaccord Genuity Wealth Management.

History

Adam & Company was founded in 1983 and was the first new retail bank to be established in Scotland since 1844. It opened its first branch in Charlotte Square, Edinburgh, Scotland on 29 May 1984 with the aim of providing high-quality banking and investment management services for wealthy clients.[1]

In 1986, Adam and Company acquired London-based Continental Trust (London) Limited; and later established an international arm in Guernsey. Branches in Glasgow, Manchester and Aberdeen were also opened between 1987 and 2005.

In 1993, Adam and Company was acquired by the Royal Bank of Scotland. After the Royal Bank of Scotland acquired NatWest in 2000, restructuring of the group saw Adam and Company placed in the bank's Wealth Management Services division, alongside Coutts.

In 2002, Adam and Company acquired Stewart Ivory Wealth Management.

During the years until 2012, Adam & Company established itself as a bank for the wealthy. In 2012, Adam & Company became the first UK bank to implement the Avaloq investment and banking platform which paved the way for integration with Coutts and later on, Canaccord Genuity Wealth Management.[2]

In late 2011, the company moved its registered office to a newly refurbished Georgian townhouse at 25 Saint Andrew Square.

In 2014 and as part of a wider and more radical shake-up to the divisional structure of the parent company, Adam & Company, under the leadership of Graham Storrie, was made a subsidiary of Coutts and consolidated into the Commercial and Private Banking division of RBS, under divisional CEO Alison Rose.

In early 2018, the Royal Bank of Scotland Group announced its plans for restructuring to comply with new UK-wide rules on ring-fencing retail banking operations from investment banking operations. As part of this restructuring, all retail banking assets of the Royal Bank of Scotland were transferred to Adam & Company, which was renamed Royal Bank of Scotland. Adam & Company continued as an RBS private banking brand in Scotland, along the same lines as the Drummonds and Child & Co. businesses in England.

In 2021 the private client investment management part of the business, including the Adam & Company brand, was sold to Canaccord Genuity Group. Adam’s lending and banking customer relationships, which were retained, were subsequently transferred to Coutts & Co..[3]

As part of Canaccord Genuity Wealth Management, Adam & Company has extended capabilities in the areas of global and small cap equities, ESG funds and fixed income, in addition to retirement, later life care and inheritance tax financial planning services for private clients.[4]

References
  1. "Adam & Company". NatWest Group. Retrieved 5 May 2023.
  2. "Storrie 'energised' at Adam & Co after Canaccord deal". The Herald Scotland. Retrieved 5 May 2023.
  3. "Canaccord Genuity enters Scotland". Financial Times Adviser. Retrieved 5 May 2023.
  4. "Canaccord Genuity UK acquires Adam & Company". Insider. Retrieved 5 May 2023.
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