RBS to sell private banking business
Royal Bank of Scotland has announced that Coutts intends to sell its Latin American, Caribbean and African private banking business to Royal Bank of Canada (RBC Wealth Management).
Royal Bank of Scotland has announced that Coutts intends to sell its Latin American, Caribbean and African private banking business to Royal Bank of Canada (RBC Wealth Management).
The business manages around £1.5bn of assets on behalf of clients located across the three regions.
Coutts, RBS's Wealth Management Division, is focusing its growth on key geographies which include the UK, Switzerland, Russia/CIS, the Middle East and selected markets in Asia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares of RBS were down 1.95% at 28.6p in afternoon trade on Tuesday.
NR
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published