Sunday, 22nd November 2009

 

30 March 2009 - Press Briefing

Wealthiest UK investors plan legal action against Coutts

More than 500 of the wealthiest people in the UK are planning to sue Coutts, the private bank owned by Royal Bank of Scotland, for losses of over £200m (€215m), according to a report in The Sunday Times, London.

The claimants include five members of the House of Lords and as many as 10 chief executives and finance directors of FTSE 100 firms.

The campaign is being spearheaded by entrepreneur Sir Keith Mills, who has hired the attorneys Barlow, Lyde & Gilbert to launch legal action against the Queen’s bankers for loss of use of capital and potential earnings.

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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