Thursday, 20th November 2008

 

13 October 2008 - Press Briefing

Wealthy UK clients withdraw millions from private banks amid fear

The UK’s wealthiest individuals have withdrawn millions of pounds from accounts held with private banks across London and Switzerland amid persisting fears over the safety of the banking system, according to a report in The Daily Telegraph, London.

Coutts is believed to have been hit by redemptions from a host of customers due to worries over its owner, the Royal Bank of Scotland. The private banking units of UBS and Barclays had also suffered withdrawals, sources said.

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