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RBS considers sale of intl division

By International Adviser, 18 Jul 14

The Royal Bank of Scotland is considering selling the international operations of its private banking arm, Coutts.

The Royal Bank of Scotland is considering selling the international operations of its private banking arm, Coutts.

According to the Financial Times, RBS is integrating the private bank into its UK commercial lending division as part of a review which will also look at the international arm.

Alison Rose, head of the new commercial and private banking division, is reportedly heading up the review and the FT said she is expected to announce her strategy for the business at an investor day “as early as September”.

RBS told the newspaper: “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 business 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.”

Tags: RBS

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.