Coutts International, RBS’ private banking and wealth branch in Europe and Asia, is no longer in British hands. The bank sold its international assets valued at around $30bn to Swiss bank Union Bancaire Privée last week as part of its strategy to focus more on the UK market.
This involved panel firm Ashurst pulling out all the stops, with advisers from London, Paris, Singapore and Hong Kong – and liaising with Swiss firm Homburger on local law matters.
Coutts clients in the UK – among them the British royal family – need not fear. The bank has already announced that the sale will not affect its UK arm at all.
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