NatWest launches Coutts private bank in Scotland

Coutts CEO Peter Flavel

NatWest Group has announced that Coutts, its wealth manager and private bank, is launching in Scotland.

Coutts in Scotland will be led by Alisdair Dewar and located across a network of offices in Edinburgh, Glasgow and Aberdeen.

The move follows the completion of the sale by NatWest of the Adam & Company investment management business to Canaccord Genuity Wealth Management.

Adam’s banking and lending business was not part of the sale.

Current Adam & Company banking and lending clients will continue to be served under the Adam & Company brand until the proposed integration of the business into Coutts in mid-2022, subject to the approval of the Court of Session.

NatWest said Coutts is building on its Scottish roots which date back to 1692.

Its origins lie in three Scottish families: the Campbells, who founded the original goldsmith-banking shop; the Middletons, who moved the business to banking; and the Coutts family who laid the foundations of the modern bank.

Coutts has also had many notable Scottish clients including Walter Scott and Andrew Carnegie.

Coutts CEO Peter Flave said: “This exciting development allows us to provide an on-the-ground Coutts presence in Scotland.

“We’ve had an excellent track-record with Adam & Company, and we are delighted that we are able to continue serving Scotland’s private banking market with a wider product and service offering.

“Scotland is an important part of the NatWest Group’s heritage and through our network of Scottish offices and experienced locally-based team, our commitment to our clients and colleagues remains unwavering.

“A big focus going forward is to create value beyond products and services by helping clients achieve their goals without compromising their values.”