Complex Made Simple

Coutts launches hiring spree to strengthen business

Coutts & Co, the wealth arm of Royal Bank of Scotland (RBS), has embarked on an aggressive hiring spree to strengthen its core businesses in the UK, Middle East, Asia, Switzerland and eastern Europe, the Financial Times has reported. The private bank used by Queen Elizabeth II has identified the Middle East as a high-growth area over the next few years and plans to make at least 15 senior appointments in the region this year, said Rory Tapner, chief executive of the overall wealth division. It has appointed Credit Suisse banker Ali Hammad as co-head of private banking for the Middle East, with Gary Dugan expected to join from Dubai-based Emirates NBD as chief investment officer for Asia & Middle East, he said.