Nigel Drury has joined the wealth division at Coutts as its new chief risk officer (CRO).
Prior to joining the wealth unit, Drury was RBS’s group head of operational risk for the past three years and head of operational risk in global banking and markets before that.
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Drury started his career as the head of operational risk at ABN AMRO and spent eight years heading ABN AMRO’s Groupwide credit risk reporting and control function.
Coutts said his experience across different countries and different divisions such as risk advisory, investment banking, asset management and private wealth was valuable at a time when private banks have to implement tighter regulations.
Drury is to replace James Clarry who was interim CRO over the past six months. Clarry will be able to fully focus on his initial role as general counsel for the wealth division.
Nigel Drury will report to both David Stephen, deputy group CRO at RBS, and Coutts CEO Rory Tapner. He will remain on the group risk committee and will be joining the Wealth’s executive committee subject to regulatory approval.
