Private banking specialist Duncan Lawrie has underlined its long-term commitment to the Isle of Man and launched a new phase of development to celebrate 30 years of successful operation in the Manx community.

The Douglas-based business is now headed by newly appointed managing director Sue Preskey, who joined the bank 18 months ago and has 30 years of experience in the financial services sector.

“Opportunities for a career in banking brought me to the island from Glasgow 27 years ago,” said Sue, 48, who admits that she thrives on a challenge. Prior to joining Duncan Lawrie, she was director at Thomas Miller Investment (IOM) Limited for eight years and had previously worked for the FSC (now FSA).

“People often think that private banking is designed only for the ultra-high net worth market. However, this is not the case and we want to appeal to people seeking traditional banking values,” declared Sue.

“Whilst we are not a volume-based retail bank, our services may be appropriate to individuals or entities with a reasonable sum to deposit or invest, or those who may wish to borrow from a friendly and flexible bank. We would encourage people to come and talk to us.

“Duncan Lawrie Private Banking has traditionally sought a low profile in the Isle of Man, but we are now one of the last businesses to offer a wholly local service where our bankers, investment managers and fiduciary specialists collectively work under one roof. We feel it’s vital for the Manx economy to have a vibrant banking and fiduciary services sector and we want to be a major part of it.”

A keep-fit enthusiast, Sue is married with two daughters, one a medical doctor and the other currently doing her A-Levels.

Highly regarded in the business community for her strong commercial awareness and her track record from working as both a practitioner and regulator, Sue added: “Duncan Lawrie is a tight team with drive, commitment and passion, offering expertise in all aspects of business. We are creating a co-ordinated vision and as a result are already seeing tangible results.”

The second recent appointment to the board is private client director Nigel Bolt, 51, who has worked in the private banking sector since 1993 and joined the company from Kleinwort Benson last year.

“With the advantage of a local board, Duncan Lawrie is a bank which is fully empowered to take local decisions,” said Nigel. “This makes a massive difference to our clients who enjoy a direct and personalised relationship with real professionals, who respond quickly to all their needs.

“In many ways, we are akin to the UK-based “challenger” banks which have successfully gained business from the traditional banking sector. Clients shouldn’t have to accept impersonal service and call centres; they should expect decisions to be built on trust and open communication,” said Nigel, an enthusiastic but self-confessed wayward golfer, who is married with two children.

He added: “Duncan Lawrie is ultimately owned by a charitable foundation which makes a refreshing change from the world of ‘fat cat’ bankers. It’s a pleasure to come to work when you know that your employer cares about its staff and clients in equal measure.”

A pivotal position in taking the business forward goes to 33-year-old Steven Quayle, who joined the bank as financial controller in 2008 and was appointed to the board three years ago as finance director.

Isle of Man born and bred, Steven went to university in the UK and on returning to the island in 2003 decided on a career as an accountant with KPMG and qualified as a chartered accountant in 2006. Married with two children, Steven is a former island junior badminton champion and is now in the senior island squad.

“With the acceptance by the banking industry that mistakes were made in the past, it is important to embrace the changing landscape and ensure that Duncan Lawrie, with its massive commitment to the island, remains at the forefront of developments,” said Steven.

He added: “Lethargy is not acceptable as far as Duncan Lawrie is concerned and we are passionate about what can be achieved in creating a 21st century vision for the bank, whilst retaining our traditional values.”

Photo - Sue Preskey with Steven Quayle (left) and Nigel Bolt)