COUTTS & CO UNVEILS PLANS FOR EXPANSION IN REGIONS
19 August 2002

Coutts & Co, the UK's leading private bank, has today unveiled plans for a significant expansion of its regional office network. As part of the expansion plans, the private bank will increase the number of private bankers in its regions by nearly 30 per cent.

The expansion plans are underpinned by the appointment of Peter Mawdsley and John Williams as client group heads for the regional offices. Formerly senior private bankers for Coutts & Co's Manchester and Midlands-based offices respectively, Mawdsley and Williams will be responsible for driving the regional expansion programme. One of their first initiatives will be to recruit new private bankers for the regional offices.

Commenting on the regional investment plans, Coutts & Co chief executive Gordon Pell said: "Our investment illustrates Coutts & Co's continued commitment to its regional office network and reflects our determination to bring our products and services closer to our clients. The expansion plans will enable us to keep building on the personal service for which Coutts is renowned.

"The regional office network has proved to be the fastest growing area of our business in the UK. Our regional offices have been growing steadily and we are looking to recruit significant numbers of private bankers - in some cases doubling the size of our existing offices - to meet the increased demand for Coutts' products and services."

Coutts & Co opened new offices in Tunbridge Wells and Cambridge in 2001, both of which have performed exceptionally well in their first years. Plans to open a new office in Liverpool in 2003 will bring to 16 the number of regional offices outside of London.

To date, the regional offices have focused primarily on entrepreneur and retired clients. However, as part of the expansion plans, all regional offices will offer specialised wealth management products and services for all Coutts' client groups including professionals, executives, sports and entertainment.

For further information, please contact:

Anita Saunders, Public Relations Manager, Coutts Group on 0207 957 2427 or mobile 07970 001149, or e-mail anita.saunders@coutts.com, or Julie Cooper, Head of Public Relations, on 0207 753 1774 or mobile 07970 001038 or e-mail julie.a.cooper@coutts.com.

Telephone calls with Coutts Group companies may be monitored or recorded in order to maintain and improve our service.

Issued on behalf of the Coutts Group by Coutts & Co, which is regulated by the FSA.

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