Experienced wealth managers Patrice McDonald and Jakob Stott have become non-executive directors of Coutts & Co. They are replacing longstanding board members Linda Urquhart and Mark Lund, who are set to retire this month and in December respectively.

Patrice McDonald brings more than 25 years’ experience of wealth, asset management, investment and retail banking knowledge to the board.

Currently senior independent director and chair of the risk committee of Allica Bank, and non-executive director and chair of the risk committee of Brown Brothers Harriman’s Irish entity, she has also chaired the board of TD Bank Europe, TD Global Finance and Marshall Wace Asset Management, and been a board director at Davy Group, and Simcorp.

In her executive career, McDonald also held a number of senior roles at Barclays’ wealth business and was its global chief risk officer.

Jakob Stott brings extensive experience from his career in financial services across many continents. He was previously both group CEO and a member of the board of directors at Quintet Private Bank. Prior to this, he held numerous leadership positions in the capital markets and derivatives businesses of both UBS and JP Morgan, as well as emerging markets, in London, Frankfurt, Tokyo and Singapore.

Stott was chief operating officer for JP Morgan, EMEA and CEO, wealth management Europe for UBS in Zurich, alongside other positions.