Coutts, the international part of which is being spun off, says it is making “strong” hires across all departments and that attrition of staff this year has fallen, this publication can exclusively report.

Coutts, the international part of which is being spun off, has told this publication it is making “strong” hires across all departments and that attrition of staff this year is below last year’s levels, countering reports that focused on two high-level exits.

The blue-blooded bank, part of Royal Bank of Scotland, is driving forward with a number of significant new recruits, Michael Blake, general manager of Coutts Asia, told this publication when it asked about reports of defections.

“We continue to make strong hires in roles which span across all departments – the front line, products and services, advisory and investment, compliance – as the wealth management business continues to benefit from the region’s growing number of millionaires and billionaires. These hires bring a wealth of experience and hold impressive tenures within the industry,” Blake said in an emailed statement to this publication.

“We have made several key hires in Hong Kong and Singapore in the past 12 months. Our Hong Kong team has been strengthened with new private bankers, most notably ex-JP Morgan banker Shun Pang, who joined us in May 2014 as managing director, head of Hong Kong and Philippines. In Singapore, seasoned private banker Yee Chin Lit from Credit Suisse joined us in January to head the Indonesian market. Due to the growth of the Indonesian business, we added four new private bankers to his team. Our new hires for this year also include two NRI market team leaders, head of treasury and head of client account services,” he continued.

Coutts was contacted after a media report said Kin Cheung, head of active advisory for North Asia, and Kenny Wan, head of investment consulting for North Asia, had left in October. Coutts confirmed the moves to this publication.

“People movement is part and parcel of the private banking industry, especially in Asia, where a combination of fierce competition among banks and a shortage of experienced professionals are fuelling staff movements,” Blake said.

“It’s business as usual. Our clients remain our top priority and we are focused on providing the high standards of advice and service that they expect,” Blake added.

There is, inevitably, speculation about the strategy and shape of Coutts’ non-UK business after RBS said a few weeks ago that it was considering a possible sale of the bank. The parent firm has reportedly engaged Goldman Sachs to advise it.