U.K. banking group Royal Bank of Scotland has appointed a new Chief Executive of Private Banking, with responsibility for Coutts & Co and Adam & Company.
Royal Bank of Scotland (RBS) has revealed in a press release that the well-known figure around Asian wealth management, Peter Flavel, will leave Singapore at the end of this month and relocate to London to take up a new position.
Flavel joins from J.P. Morgan where he has been Chief Executive of the Private Wealth Management business in Asia. He has a deep knowledge of all aspects of Private Banking, having previously led Standard Chartered’s Private Banking business.
He also played an integral part in melding the acquisition of the American Express Private Wealth division into Standard Charted. Prior to that role he had been with National Australia Bank.
Sale of Coutts International near Completion
In London Michael Morley will be stepping down as CEO of Coutts & Co. He will remain with Private Banking until the end of May 2016 to ensure a smooth transition for the business.
«As we near the completion of the sale of our Swiss and Asian businesses to Union Bancaire Privée (UBP), we are investing in our business in the U.K. and our strong Coutts and Adam brands with a focus on remaining the leading choice for Private Banking and Wealth Management,» said Alison Rose CEO of the commercial and private banking at RBS.
