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Coutts Russian team said defecting to Vontobel as RBS review looms
11/08/2014 , News Team

The Russian team at Coutts in Switzerland, which manage more than SwFr 1.2 billion, is moving to Vontobel, according to Zurich reports.

The move comes as RBS is expected to imminently tell staff at Coutts of the results of its review into the private bank. The study, carried out by Alison Rose, head of the new commercial and private banking division at RBS, could result in cutbacks, including Coutts international business in Switzerland.

About seven staff are due to move to Vontobel from Coutts, including four consultants, headed by senior banker Rolf Frehner, the Inside Paradeplatz online service reported.

A Coutts spokesperson wasn't immediately available for comment. 

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