NatWest-RBS is in talks to offload private banking subsidiary Adam & Co, according to a report on Sky News.

NatWest-RBS is working with Evercore, the investment bank, to help divest the bulk of Adam & Co’s operations, the report claimed.

Adam & Co’s lending book would be folded into Coutts, NatWest group’s main wealth management business.

There are likely to be a few suitors for Adam & Co, meaning the sale price could hit £50 million.

A NatWest spokeswoman declined to comment.

NatWest-RBS will release its annual results on Friday