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Introducer Agreement first for bank

The Isle of Man Bank is claiming a first within the Royal Bank of Scotland International’s offshore network after entering into an Introducer Agreement with the Island’s longest established stockbroker, Ramsey Crookall.

A media release says it formalises a relationship which has existed for over 60 years and follows client relationship discussions involving the two companies.

The bank was represented by Director of Retail Banking Geoff Gelling and David Saunders, who heads up the Premium Banking team, while Chairman Neal Crookall and Joanna Crookall, a director, took part in the negotiations on behalf of the stockbrokers.

Sales manager within the bank's Financial Planning Services team David Wilkinson says in the past such business was done very much on the basis of word of mouth or a gentleman’s agreement, but on a reactionary basis. For instance if a bank client wanted to buy shares they would be referred to Ramsey Crookall. Now, there will be a much more pro-active approach.

(Picture: The head office of the Isle of Man Bank at the end of Athol Street, Douglas).

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