Origen has hired nearly a sixth of the former Clydesdale and Yorkshire bank advisers who were made redundant earlier this year.
Mike Kirsch, the chief executive of the Aegon UK-owned advisory firm, said 2012 had been a difficult year but that the business is now in “better shape”.
He said: “It was a bit of a coup in June when we picked up 18 of the advisers who had to leave the Yorkshire and Clydesdale banks when owner National Australia Bank closed its advisory arms.
“This was almost a quarter of all of NAB’s UK advisers, most of whom are in the north of England and Scotland, and this has added to our national footprint.”
Mr Kirsch said he was “thrilled” Clydesdale’s former regional director, Stuart Newlands, has agreed to join Origen.
Mr Newlands has taken the role of head of private client north for Origen Financial Services, based in Glasgow.
Mr Kirsch said the recent recruits take the number of advisers at Origen, across all its various routes to market, to about 100.
He added: “On the back of this expansion, we hope to make more announcements in a couple of months, both in our core private client business and our telephone business for the at-retirement proposition.”
Background
In March, NAB confirmed plans to close the financial advice service offered within Clydesdale and Yorkshire’s business and private banking divisions and cut 130 jobs. Several other major banks have exited the advice market, including Barclays. Santander has suspended its offering, and Lloyds and the Royal Bank of Scotland have cut the size of their units.
