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January 26, 2011updated 04 Apr 2017 3:51pm

Coutts hires ex-Barclays Wealth executive

Unleashing the power of the Coutts brand RBS Coutts: A new leader and a brand puzzle

By Eman El-shenawi

Coutts Private Office has hired former Barclays Wealth director, Maeve Colley-Russell, as a senior client partner to bolster the private banking unit.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The hire follows claims by Rory Tapner, chief executive of RBS’s wealth division, who told PBI earlier this month, that the bank had recently seen a rise in interest from executives at rival firms.

 

Rival hire

Colley-Russell will serve the private bank’s ultra high net worth (UHNW) clients, with average assets of £30m ($47.6m) in net worth, or with more than £10m in investable assets.

At Barclays Wealth, where she spent five years, Colley-Russell served as a director responsible for UHNW clients.

Prior to that, she held positions at Credit Suisse Private Bank and Union Bancaire Privée.

 

A focus on UHNW: brand-building

Tapner said that Coutts, like its competitors, will target business growth in the UHNW segments.

But he added the business had to be developed “with care and in a smart way”.

“The marketing function is really important – to promote the whole range of Coutts’ best-in-class services, such as advisory and philanthropy,” he said.

Tapner added: “At present, two thirds of our business is in the UK and the rest [is] international. I would expect that ratio to be reversed over time as we embark on our global build out.”

Coutts, the private banking arm of RBS, has about 74,000 clients in the UK, ranking second to Barclays Wealth.

Coutts’ most recently reported assets under managment stand at £3.7bn ($5.8bn).

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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