Ex-Tesco Bank boss Benny Higgins to chair wealth management firm

Former Tesco Bank boss Benny Higgins has been appointed as chairman of financial planning firm Anderson Anderson & Brown Wealth.

Benny Higgins, non-executive chairman (left), and Fraser Porter, CEO of AAB Wealth. Picture: Simon Williams

Higgins is one of the best known figures in Scotland’s financial services industry. He was chief executive of Tesco Bank for ten years, and prior to that was head of RBS and NatWest’s retail banking business, which included their wealth management offering.

His current portfolio sees him holding roles including executive chairman of property firm Buccleuch and strategic advisor to the First Minister on the creation of the Scottish National Investment Bank.

AAB Wealth, which is part of the Aberdeen-headquartered Anderson Anderson & Brown group, has assets under advice approaching £350 million. The firm is targeting income in excess of £3m for the current financial year.

Fraser Porter, CEO, and Benny Higgins, non-executive chairman, both of AAB Wealth. Picture: Simon Williams

Higgins, who becomes non-executive chairman, said: “AAB Wealth is a highly respected professional firm with ambitious growth plans, a highly able executive team and, most importantly, a real focus on serving clients well with adherence to strong values.

“I consider the potential to nurture this business to a level where it is considered one of the best providers of financial planning in the country is palpable.”

Fraser Porter, chief executive of AAB Wealth, added: “It’s an exciting time for the business as we now have an established presence in the Central Belt, a first-class team and a good platform to grow across Scotland.”