Collins Stewart ramps up SWF strategy

UK investment bank Collins Stewart Group has taken a step forward in its plans to launch a sovereign wealth funds (SWFs) business by hiring Robert Stein of West LB as a senior adviser.

He will report to CEO Joel Plasco and will advise the bank on business development in general, and SWFs in particular.

At West LB Stein was the managing board member responsible for corporate and investment banking, treasury, asset management and principal investments. Prior to that role, he was at Deutsche Bank where he was CEO Deutsche Bank, Japan and subsequently CEO Deutsche Bank, Asia Pacific. He has also held various senior positions at Merrill Lynch.

He will continue as a managing partner of Adelphi Capital Partners, a financial services private equity and advisory boutique.