Private banking unit Arbuthnot Latham & Co has tapped rival Coutts to appoint a banking veteran as its new chief executive, as wealth managers turn to their competitors for a series of key hires.

James Fleming will join parent company Arbuthnot Banking Group's board from March, and joins the private banking arm after nine years at Coutts. Most recently he was managing director of the UK Entrepreneurs, Landowners and Inpatriates client groups, and has also held the role of head of International Private Banking at Coutts.