RBS consider shifting focus from international to wealthy U.K. clients

RBS building

Royal Bank of Scotland is considering selling the international arm of its Coutts private bank as it shifts its focus to wealthy clients in the U.K.

Bloomberg News reports the bank is also examining options including joint ventures or merging Coutts International, it said in a memo to employees. An internal review of RBS high-net-worth operations recommended to 'substantially increase' efforts to expand the U.K. business, which counts Queen Elizabeth II among its customers.

CEO Ross McEwan, 57, is cutting back investment-banking operations and focusing on domestic customers after the company received the biggest bank bailout in the world. RBS, which is 80 percent owned by the government, also plans to sell its Citizens U.S. consumer bank in an initial public offering this year.

Hit the link below to access the complete Bloomberg article:

RBS Considers Sale of Coutts Foreign Arm to Focus on U.K.

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