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View the article online at http://citywire.co.uk/wealth-manager/article/a762498

Coutts considers sale of overseas division

by David Campbell on Jul 18, 2014 at 07:51

Coutts considers sale of overseas division

RBS is considering the sale of subsidiary Coutts' overseas operations as part of a review of its wealth management services.

The international business has offices in Hong Kong, Abu Dhabi, Qatar, Dubai, Geneva, Zurich and Monaco, which could be disposed as Coutts is integrated into RBS' commercial lending division under a strategic review of the group.

RBS told the Financial Times: ‘We announced in February that Coutts will sit within our commercial and private banking division, where we can better connect it with the successful entrepreneurs and growth businesses who are creating wealth.

‘As part of the transition and integration of this business, we have been reviewing our private banking business so that it works for the benefit of our customers.’   

1 comment so far. Why not have your say?

Gavin Palmer

Jul 20, 2014 at 12:49

Stupid idea it takes decades to build up a set of well located areas and braches and enough critical mass of clients. Another dumb idea that the board are likely to be duped into thinking is clever when its anything but except for those effectively stealing off the shareholders

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