Swiss private bank Union Bancaire Privée (UBP) has agreed a deal to buy the international arm of Coutts from the Royal Bank of Scotland.
The deal, confirmed this morning, follows several months of interest from a number of parties. "We gave careful consideration to identifying a buyer with the capability to take on this business in order to minimise the impact on clients and staff. We believe that in UBP we have found a good long term owner for this business," said RBS commercial and private banking CEO Alison Rose. "There will be no interruption of service for clients of Coutts or Adam & Company and we remain committed to improving all aspects of our market leading businesses." RBS said the price paid for the busi...
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