Kleinwort Benson, the UK private bank which is in the process of changing the control of its business from Germany’s Commerzbank to the Belgian financial services group RHJ International, has appointed Richard Stanwell as head of its Newbury office.

Former Barclays Wealth man Stanwell will lead the firm’s wealth management practice in a region stretching from the Thames Valley into the West Country, the firm said in a statement yesterday.

On the Newbury office development, Kleinwort Benson said Stanwell has more than 12 years of wealth management experience, having most recently been a senior private banker at Barclays Wealth, where he managed a multi-million book of high net worth clients and was also a desk head.

Prior to Barclays Wealth, he was an investment manager with Gerrard Investment Management, where he specialised in ethical investments.

Kleinwort Benson also appointed Catherine Whyle to work alongside Stanwell and to support the wealth management team. She joins from Coutts & Co and has 15 years of experience in the private client area.

Colin Rowe, head of private wealth management for the regions said that Stanwell “is dedicated to building strong client relationships and has made an excellent start in his new role.  Not only is he busy bringing new assets on board at this early stage, but he has already become an integral part of our broader regional team, helping to develop our already strong regional presence.”

“Catherine’s interest in and knowledge of some of the most important areas of our business - including philanthropy, the needs of business owners, entrepreneurs and our clients’ family businesses – are proving invaluable,” he said.

Kleinwort Benson was sold by its German parent last October. Commerzbank, which received state aid, was forced under European Union competition law to spin off non-domestic assets, including a number of private banking businesses.