26th Mar 2015 10:09
LONDON (Alliance News) - The chief executive of Coutts & Co, the private bank and wealth manager owned by Royal Bank of Scotland Group PLC, is set to leave the bank, according to The Times newspaper on Thursday.
Michael Morley, who joined Coutts & Co as chief executive in 2009, is likely to depart at some point in the next few months, The Times reported, citing sources.
The Times also reported that Switzerland's Union Bancaire Privee is nearing a USD600 million deal to acquire Coutts' international operations, which RBS has put up for sale.
RBS shares were down 1.0% at 348.70 pence on Thursday morning.
http://www.thetimes.co.uk/tto/business/industries/banking/article4393231.ece
By Samuel Agini; [email protected]; @samuelagini
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