Published by AsianPrivateBanker – 16th March 2015
RBS’ private banking arm has lost its greater China market head who is believed to have left along with three members of his team.
Andrew Sum, greater China market head has left the bank. Sum had been in the role since 2008.
When contacted, a Coutts (RBS’ private banking arm) spokesperson declined to comment.
The news that he is leaving comes as many insiders are expecting a buyer for Coutts to be announced.
Coutts has been up for sale since September last year, during which time several banks have been tipped to be the eventual buyers, including DBS, Credit Suisse, UBP, ANZ, Investec, and J. Safra Sarasin.
Coutts has US$15 billion in assets under management, down by 5%, the only bank in the top 20 to register a decline, according to the Asian Private Banker AUM table.
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