COUTTS & CO EXPANDS TEAM IN WALES WITH NEW APPOINTMENT

11 April 2005

Coutts & Co, one of the UK’s leading private banks, has announced its continued expansion in Wales, with the appointment of a new private banker to its Cardiff based office. The appointment marks the continued success of Coutts in the region and has been made in response to increasing demand for the bank’s wealth management services.

Martin Carter joins the team to help expand the business throughout the South Wales region, concentrating primarily on Newport and Cardiff. He joins from his role as senior private banking manager with HSBC in Cardiff, where he spent ten years looking after high net worth individuals in Wales.

The Cardiff office was the second fastest growing of Coutts’ 16 regional offices in 2004, experiencing a 50% increase in its client base.

Harry Lewis, senior banker, commented: "We are delighted that we have been able to further expand the team at what has been a very exciting time for our operations throughout Wales.

"We are confident that Martin, with over 30 years financial services experience in the region, will be a valuable asset to the team and will assist us in expanding even further in 2005."

Martin added: "I am delighted to be joining Coutts, and have been impressed by its strong commitment to its private banking operations in the regions. Coutts is widely regarded as the elite of private banking and I am looking forward to the challenge of utilising the strength of the bank’s brand and its product offering to helping the team in its continued drive for expansion."

Coutts unveiled plans for significant expansion of its regional office network at the end of 2003. As part of its expansion plans, the private bank has, over the last year, been increasing the number of private bankers in its regional offices by as much as 60%. It also has plans to open two new offices, the locations of which are still to be confirmed.

-ends-

For further information please contact:

Claire Symonds, Regional PR Manager, Coutts & Co. Tel: 020 7957 2650, mob: 07970 001149, email: claire.symonds@coutts.com

Notes to editors:

Coutts & Co

• Coutts is the international private banking arm of The Royal Bank of Scotland Group. The Royal Bank of Scotland Group is one of the world's largest banking groups.
• Coutts manages the wealth of 90,000 high net worth clients worldwide through a network of 50 offices globally.
• The first Coutts regional office to be opened was Eton in 1961. The most recent new opening was Liverpool, late last year. Today, Coutts has regional offices in Bath, Birmingham, Bournemouth, Bristol, Cambridge, Cardiff, Eton, Guildford, Leeds, Liverpool, Manchester, Newcastle, Nottingham, Oxford, Tunbridge Wells & Winchester.
• Coutts offers clients a range of products and services covering sophisticated investment products together with expertise in trust and fiduciary services and UK tax and banking services.
• Coutts was awarded ‘Best Use of Long-Only Multi-Manager Structures’ for the third time at the Private Asset Management Awards 2005

• Coutts & Co is authorised and regulated by the Financial Services Authority. Registered in England No. 36695. Registered office: 440 Strand, London, WC2R 0QS

• Calls may be recorded