Rathbones to pay £15m to end Jersey trust battle

clock

Wealth manager Rathbone Brothers has agreed to pay £15m as part of a conditional settlement to end a two-year dispute involving a former director which has already cost it £5m in legal fees.

The case began after a claim was filed in 2012 against a former director of Rathbone Trust Company Jersey Ltd, owned by Rathbones between March 2000 and October 2008. It was centred on the management of a Jersey trust which saw the assets underperform expectations. Rathbones did not choose or manage the investments. Rather, the claim was filed against trustees including the former Rathbones employee because an underlying investment performed poorly. In November the judge ruled in favour of Rathbones and its former employee, confirming he was covered by the insurance policy for any ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Crypto investors receive 40 times more HMRC tax warnings than stock traders

Crypto investors receive 40 times more HMRC tax warnings than stock traders

Data shows enforcement activity shift

clock 19 March 2026 • 2 min read
Wrestling with the idea of a new world order? Try European smaller companies

Wrestling with the idea of a new world order? Try European smaller companies

'Let me try to explain the case for calm'

David Walton
clock 16 March 2026 • 4 min read
Low-cost platforms spur one in three UK adults to invest

Low-cost platforms spur one in three UK adults to invest

Trading 212 the main beneficiary

Michael Nelson
clock 12 March 2026 • 2 min read