Coutts & Co announces plans for UK expansion

Coutts Group Chief Executive, Gordon Pell, today announced significant new regional expansion plans for the UK’s leading private bank. The plans will strengthen the bank’s premier position in the UK market place. Developments to include:

· Two new Coutts regional offices – locations to be confirmed
· 60% increase in the number of private bankers in Coutts UK regional offices1

This latest phase of expansion for Coutts comes after a continued period of growth with many regional offices achieving more than 20% increases in client numbers2.  The recently opened Coutts office in Liverpool has already recruited large numbers of wealthy clients and Coutts believes that further office openings will replicate this experience. 

“2004 looks set to be a further year of growth for Coutts, with our UK regional presence continuing to be a major business priority. In 2003, Coutts regional offices illustrated extremely strong growth at a time when many other private banks were reducing their regional presence” explains Gordon Pell, Chief Executive of the Coutts Group.

Exact locations of new regional offices are to be confirmed and will follow the completion of extensive research currently being undertaken by Coutts, but early indications point towards the possibility of Essex or Suffolk in the south, with additional potential for the Midlands & the North.

The first phase of Coutts regional expansion was announced in August 2002 and included a recruitment drive to increase the number of private bankers by 30%; this recruitment process is now well underway with many private bankers already on board. Today’s announcement sees the number of Coutts private bankers in the UK regions increasing by a further 60%. Additionally, the number of Private Banking Officers will increase by 50%3.

Coutts offices throughout the UK offer specialised wealth management products and services for all of Coutts client groups including entrepreneurs, professionals, executives, sports and entertainment, and landowners.

For further media information, please contact

Rachel Faulkner, Public Relations Manager, Coutts Group on 0207 957 2427 or mobile 07970 001156 or e-mail rachel.faulkner@coutts.com 

Claire Symonds, Press Officer on 0207 957 2650 or claire.symonds@coutts.com
 

Issued on behalf of the Coutts Group by Coutts & Co, which is authorised and regulated by the Financial Services Authority. Calls may be recorded.