Coutts' international arm drops RBS branding
Coutts & Co is to drop the RBS branding from its international business from tomorrow, it has been confirmed.
According to a spokesperson for the firm, the move represents a return to its roots as one of the oldest brands in private banking.
The firm was set up in 1692 by John Campbell and was renamed Campbell & Coutts in 1730, after the founder's granddaughter married James Coutts.
Following a merger with Natwest, it became part of RBS Group, when the banking giant took over Natwest in 2000.
Since 2008 it has operated as RBS Coutts overseas in a move that was supposed to 'align it with its parent group'.
But the re-branding occurred just before the vagaries of the global financial crisis almost led to the failure of RBS Group.
This saw staff leaving the international arm of the business, as they did not appreciate the alignment.
The bank has said the decision to relaunch internationally is about strengthening the name rather than dropping the RBS brand, according to the Financial Times.
The rebrand follows an overhaul of Coutts by Rory Tapner, head of wealth at RBS, which saw a repackaging of its investment services and an increase in the minimum assets required of clients.