27th Mar 2015 06:40
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC has signed a deal to sell its Coutts International private banking business to Swiss family-owned firm Union Bancaire Privée, the Financial Times reported on Thursday.
UBP is understood to have signed the deal on Thursday and is expected to pay around USD600 million to USD800 million to acquire the non-UK operations of Coutts, the FT said, citing two people familiar with the situation. Both RBS and UBP declined to comment.
RBS unveiled plans last year to split the Coutts business in two, retaining the UK arm but selling off the international operation.
http://www.ft.com/cms/s/0/a2f7e3ea-d3c3-11e4-99bd-00144feab7de.html
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
RBS.L