Royal Bank of Scotland has appointed Peter Flavel as chief executive of private banking, responsible for Coutts & Co and Adam & Company.
Flavel (pictured) joins RBS from J.P. Morgan where he has been chief executive of its private wealth management business in Asia.
Flavel previously led Standard Chartered’s private banking business.
He was recently voted ‘Best Leader in Private Banking 2015’ at the PWM/The Banker Global Private Banking Awards.
Flavel will move from Singapore to London to take on the new role.
Michael Morley will step down as CEO of Coutts & Co. He will remain with RBS private banking until the end of May 2016 to ensure a smooth transition.
“Michael has been instrumental in guiding the business over the past seven years particularly through a significant period of change,” said Alison Rose, CEO of RBS commercial & private banking.
“He now feels it is the right time to hand over the reins as the business takes a new direction and re-focuses on growth …
“We are investing in our business in the UK and our strong Coutts and Adam brands with a focus on remaining the leading choice for private banking and wealth management.
“I am delighted that Peter is joining the business. He brings a wealth of experience to help steer the business through this exciting stage of its development.”