3rd Oct 2014 05:37
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC has hired Goldman Sachs Inc to seek buyers for its Coutts International business and is expected to inform potential suitors that they will be refused the right to use the brand of the private bank, the Financial Times reported Thursday.
RBS is planning to keep the UK business of Coutts & Co but is understood to have attracted a number of bidders for the Switzerland-based international arm of the company, the FT said.
By refusing to allow the brand to be used by any potential buyer, RBS is likely to put off any potential private equity buyers, unless they already own private banking assets to which they could transfer the customers, the paper added.
http://www.ft.com/cms/s/0/6ad1eb84-4a50-11e4-b8bc-00144feab7de.html#axzz3ExlJRrD6
By Sam Unsted; [email protected]; @SamUAtAlliance
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