David Douglas-Home, Earl of Home, has retired as chairman of Coutts & Co.
He will be replaced by Lord Waldegrave, who has been appointed to the head of the private bank's board. The Earl of Home will continue to chair the international side of Coutts & Co, which is based in Switzerland.Waldegrave previously sat on the board of Bank of Ireland (UK) and Fleming Family and Partners (FF&P), and held roles at Dresdner Kleinwort Benson and UBS.
Douglas-Home was appointed a Knight of the Order of the Thistle in the New Year’s Honours and had been chairman of Coutts since 1999. He will remain a member of the House of Lords.