Sunday, 22nd November 2009

 

8 August 2008 - Press Briefing

Coutts leads RBS’s wealth results

The Royal Bank of Scotland said its UK wealth management business reported total income rising by 12% year-on-year to £425m in the first half of 2008, driven by a 20% rise in contribution by its main wealth unit, Coutts & Co.

Assets under management for the bank’s wealth business rose to £18.8bn at the end of June 2008, up 10% from a year earlier.

The bank said expenses rose by 11% in the first half to £155m, reflecting continued investment in the UK.

RBS provides no breakdown of figures for its individual wealth management units such as Coutts.

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Lombard Odier hires from Coutts
  3. Comment: Prince William seals the ascent of hedge funds
  4. Stanhope Capital grows staff by 50%
  5. How The Rich Are Different: Recession Hits Investment Psyche

Brummel

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”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Wealth Business

  1. Aberdeen takes control of Horlick's Bramdean
  2. KKR's deal maker and truffle hunter
  3. Stanhope Capital grows staff by 50%
  4. London & Stamford profits up but still 'cautious'
  5. Hildebrand urges stricter regulations for Swiss banks

Related Content

  1. Coutts beefs up in Monaco with hire

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347