Royal Bank of Scotland (RBS) has lined up ten bidders for Coutts International as part of a pre-Christmas auction of the business, according to reports.
Sale documents have been sent out to firms including Credit Suisse, Julius Baer, Société Générale, and Canada's Bank of Montreal, according to Reuters. The news agency also pointed to the likes of HSBC, BNP Paribas, and Sarasin, as well as Asian banks DBS, United Overseas Bank and DBS as potential bidders. Coutts International has over $35bn in AUM, with around a third coming from Asian clients. The news agency's sources said first-round bids are due before Christmas. Last month it was suggested that the whole of the Coutts business was attracting interest from Italian bank Inte...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
