Head Of RBS's International Wealth Arm To Step Down - Report; Bank Declines Comment

Tom Burroughes

6 May 2015

The head of Royal Bank of Scotland’s overseas private banking arm, Coutts International, is due to step down after that operation’s sale to Switzerland’s , taking on around SFr30 billion ($32.4 billion) of assets in Switzerland and Asia, for an undisclosed sum. This publication recently interviewed Michel Longhini, private banking head at Geneva-headquartered UBP, about how he intended to ensure a harmonious marriage after the takeover. (See the interview here.)

RBS, which is still majority-owned by the UK taxpayer, sold its non-UK business as part of wider restructuring in its drive to return to full private ownership.