From the first of January 2008 one of the leading players in the world of offshore private banking has changed its name from Coutts & Co to RBS Coutts…as you can guess, the name change has to do with the fact the RBS group now owns Coutts which is commonly referred to as ‘The Queen’s Bank’.
RBS acquired Coutts and Co when it took over NatWest back in 2000, but until now the bank has continued to trade under its original name by which it has been known since 1822. The significance of the name change is quite far reaching; many clients are believed to have been unhappy with RBS for even considering renaming this incredibly famous and historic offshore private banking institution.
As stated, one of the common names for the banking group is ‘The Queen’s Bank’ – this is because RBS Coutts is where Her Majesty prefers to do her banking! To become a client of RBS Coutts offshore private bank one must either have a minimum of GBP 500,000 in immediately investable assets such as cash or shares, or GBP 5 million in net assets such as real estate, artwork etc.
This is not a bank favoured by us average expatriates therefore, rather it is the perfect institution for the likes of high net worth entrepreneurs and company directors for example. The bank is well known for taking care of successive generations, they believe in establishing, nurturing and maintaining professional relationships with their customers.
As is the norm with offshore private banks, RBS Coutts can handle all a client’s financial affairs and each client is appointed their very own personal private banker. The private bankers trained by RBS Coutts have an international perspective when it comes to matters fiscal and take an holistic approach to the management and maintenance of their client’s affairs.
The main services a client of the private offshore banking group will utilise are the wealth management services offered. These services enable the client to identify which policies and products are most appropriate for enabling them to meet their financial goals. The banking group also engage in investment management services and helping a client protect and enhance their financial status.
With offices in Switzerland, Hong Kong, Japan, Singapore, Spain, Uruguay, Cayman Islands, Jersey, the Middle East and the Isle of Man, RBS Coutts have an international presence and global coverage. To discover more about the recently renamed offshore banking institution, visit their website.
