RBS sells Coutts arm
ROYAL Bank of Scotland has stepped up moves to focus on the UK by agreeing to sell its international private banking and wealth management business.
RBS have agreed to sell its international private banking business
Swiss private bank UBP could pay £400-500million for Coutts International, which has "branches" in Switzerland, Monaco, UAE, Qatar, Singapore and Hong Kong and has assets under management of about £22billion.
RBS will continue to run the UK operations, which include the Queen as a client, and will write off £200million.