Wealth manager and private bank Coutts is to relaunch its private office for UHNW clients under the new brand Coutts Family Office (CFO).

Schroder’s Cazenove Capital business is to acquire London-based UHNW family office Sandaire in a drive to expand its wealth management business globally.

Billionaires around the world saw their wealth increase in 2017 to a record £6.8 trillion held by 2,158 individuals.

Toscafund Asset Management LLP, an investor in a number of financial services businesses, is to take a “significant minority stake” in London-based wealth manager Plurimi Wealth LLP.