Sunday, 22nd November 2009

 

22 June 2009 - Press Briefing

Coutts assured wealthy clients over safety of AIG investments

Coutts informed clients that their investment in AIG was safe only hours before the insurer was forced to borrow billions of dollars from the US government to prevent insolvency last September, it has emerged, according to a report in The Sunday Times, London.

Entrepreneur Sir Keith Mills, who is spearheading a group of wealthy investors pursuing legal action against the Queen’s bankers, wrote to his Coutts account manager in July 2008 expressing concern over AIG and suggesting that his £70m (€m) investment be moved elsewhere.

However, the manager e-mailed back, assuring him that Coutts was “still not concerned with any risk” to any investor such as Mills, the Sunday Times report said.

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