Edinburgh wealth firm Principal & Prosper takes on Barclays as financial partner

Chris Purves, managing director, and Stewart Siegel, director, at Principal & Prosper outside the Edinburgh office. Picture: Contributed | other

Edinburgh-based financial advisory firm Principal & Prosper has appointed Barclays as its banking partner as it looks to build on a “period of sustained growth”.

Barclays has taken on the firm’s transactional banking and cash deposits with the support allowing it to automate finances and day-to-day banking processes.

Investment and wealth management firm Principal & Prosper was founded in 2003 and has grown under the direction of managing director Chris Purves and fellow director Stewart Siegel.

Siegel said: “Relationships with clients is a key part of our organisation and so the relationship with our business partners must also be strong. We chose to bank with Barclays as they felt like the best cultural fit for us.

“In addition, Barclays ticked all the boxes from a business efficiency point of view with the facilities offered improving our finance function immensely.”

Andy Hall, head of corporate banking, central Scotland at Barclays, said: "Principal & Prosper is a long-established and recognised business and we are pleased Stewart and Chris have chosen Barclays as their financial partner for the future. Our offering aligns with their growth ambitions."