RBS Coutts plans expansion
The bank plans to add another 100 staff to is Asian business
RBS Coutts International wants to expand in Singapore and make the city state its most important international centre, according to an interview with its chief executive Hanspeter Brunner in the Business Times.
Singapore will serve as a hub for the Asian region, which is the main driver for private banks, with markets here experiencing 10- 20% growth, driven by India and China, Brunner said.
He added that the bank's client base grew 25% last year, when revenue from its Asian operations grew 51% and profit rose 53%.
The bank has around 500 staff in the region and plans to add another 100 people in Asia.
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