Nandu Patel, who this publication recently reported was leaving Morgan Stanley Private Wealth Management, is joining Rothschild as a managing director in its private banking and trust business. He will take up his new London-based position in June and report to Gary Powell, head of Rothschild’s UK private banking business.

Mr Patel was a long-standing employee of Morgan Stanley, having worked at the firm since 1990, latterly as a managing director and investment advisor. During his career with the Wall Street bank he worked with a wide variety of clients including UK charities, UK-domiciled and non-domiciled individuals, non-resident Indians and clients of East African and South African origin.

“Nandu’s experience with a broad range of clients makes him ideally suited to help us meet the increasing demand for Rothschild’s services. His time spent working with UK charities in particular will help us to serve this important client base for Rothschild,” said Mr Powell.

His appointment closely follows the announcement that Rothschild had expanded its UK private banking business with the appointments of Helen Watson and James Morrell, both previously of Morgan Stanley Private Wealth Management, along with Mark Kary from Polar Capital Holdings.