Firm brings in Wealth of ex­pe­ri­ence to its board

Fi­nance: Benny Hig­gins joins AAB

The Press and Journal (Aberdeen and Aberdeenshire) - - BUSINESS - BY KEITH FIND­LAY

An­der­son An­der­son & Brown (AAB) Wealth has ap­pointed fi­nan­cial ser­vices in­dus­try heavy­weight Benny Hig­gins as its first non-ex­ec­u­tive chair­man.

Mr Hig­gins is a for­mer chief ex­ec­u­tive at Tesco Bank and has held se­nior roles in the sec­tor over the past 30 years.

He was CEO of Tesco Bank from 2008-2017, hav­ing pre­vi­ously headed up re­tail bank­ing and wealth man­age­ment at Royal Bank of Scot­land (RBS) and NatWest. He left RBS/ NatWest for Bank of Scot­land owner HBOS, where he was chief ex­ec­u­tive of re­tail bank­ing.

His other cur­rent jobs in­clude his role as strate­gic ad­viser to First Minister Ni­cola Stur­geon on the cre­ation of the Scot­tish Na­tional In­vest­ment Bank.

He is also ex­ec­u­tive chair­man of Buc­cleuch, the Ed­in­burgh-based hold­ing com­pany for prop­erty and land owned by the Duke of Buc­cleuch and his fam­ily.

Asked what at­tracted him to the non-ex­ec­u­tive c h a i r m a n’s role at Aberdeen-based fi­nan­cial plan­ning firm AAB Wealth, he said he was join­ing a “highly re­spected pro­fes­sional firm with am­bi­tious growth plans, a highly able ex­ec­u­tive team and, most im­por­tantly, a real fo­cus on serv­ing clients well with ad­her­ence to strong val­ues”.

He added: “The po­ten­tial to nur­ture this busi­ness to a level where it is con­sid­ered one of the best providers of fi­nan­cial plan­ning in the coun­try is pal­pa­ble.”

AAB We a l t h chief ex­ec­u­tive Fraser Porter said: “I’m de­lighted to wel­come Benny to AAB Wealth. His depth of ex­pe­ri­ence, strate­gic vi­sion and ex­ten­sive net­work will be in­valu­able to the board.

“It’s an ex­cit­ing time for the busi­ness as we now have an es­tab­lished pres­ence in the Cen­tral Belt, a first-class team and a good plat­form to grow across Scot­land.”

In ad­di­tion to sev­eral re­cent new hires, AAB Wealth has cre­ated a

“His­strate­gic vi­sio­n­and ex­ten­sive net­work­willbe in­valu­able”

WEL­COME: Fraser Porter, left, with new non-ex­ec­u­tive chair­man Benny Hig­gins

se­nior lead­er­ship team tasked with the day-to-day run­ning of the busi­ness and im­ple­ment­ing its growth plans.

Mr Porter said: “It’s not just about hit­ting fi­nan­cial tar­gets, it’s about grow­ing a valu­able, sus­tain­able busi­ness in the right way.

“This is borne out by

our client re­ten­tion rate, which ex­ceeds 97%, and the busi­ness con­tin­u­ing to add sig­nif­i­cant new client lev­els at a rate of one new client per week.”

AAB Wealth – part of the AAB fi­nan­cial ser­vices group – has as­sets un­der ad­vice ap­proach­ing £350 mil­lion.

The firm is tar­get­ing in­come in ex­cess of £3m for the cur­rent fi­nan­cial year.

AAB Wealth was cre­ated in 2011, when AAB, based at Prime Four busi­ness park at Kingswells, added wealth man­age­ment to its ser­vices. It now has of­fices in Aberdeen, Ed­in­burgh and Lon­don.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.