An exclusive wealth management service aimed at the region's rising stars has been launched by Icelandic investment bank Kaupthing Singer & Friedlander in Birmingham.
The new division is headed up by financial adviser Toby Carpenter and will be available to entrepreneurs and the heads of the region's most exciting businesses.
The move is the latest ploy in an increasing scramble by firms including Coutts & Co and UBS to represent the region's millionaires.
Mr Carpenter has joined Kaupthing in Birmingham after three years at Coutts and a career as an independent financial adviser in which he has specialised specifically in managing the finances of high net worth individuals across the Midlands.
Kaupthing locally is headed by regional chairman Paul Bassi - a former regional chairman of Coutts - and board members Richard Boot and John Crabtree.
Kaupthing's wealth management arm is its third operation in the city after establishing corporate finance and commercial property divisions since launching last March.
The wealth management side offers a range of services including wealth structuring, international property, super-yachts and aircraft finance, wealth monetisation, advisory and discretionary investment management services and banking.
Mr Carpenter said: "Joining Kaupthing either as a corporate or a private client opens all sorts of doors, for example access to our own independent research on small and mid-cap companies. In addition we have over 40 investment managers in our wealth management division, with the ability to provide clients with a world investment view covering all major asset classes.
"We are building a unique proposition in Birmingham and one that is increasingly attractive to the region's emerging successful entrepreneurs and directors of major businesses."