Scottish daily Business a.m. is reporting plans by Intelligent Finance, the stand-alone Internet unit of Halifax, to offer private banking service next month.
Citing IF chief executive Jim Sprowart, Business a.m. says the bank will team up with St James's Place Capital to offer clients remote access to their accounts. Halifax last year bought 60 per cent of wealth manager St James's Place.
IF has set up a private banking unit in the past six months and is training up to 80 staff to deal with St James's Place clients, Sprowart told the paper.
Sprowart is also reported as discussing the potential for IF to link up with esure, the online motor-insurance unit Halifax has said it will begin in July.