Coutts and Company is a private bank and wealth management firm, based in the UK. Founded in 1692, it is the seventh oldest bank in the world. Coutts has been owned by the Royal Bank of Scotland group since 2000. RBS sold Coutts international in 2015.
The Coutts headquarters are in London, with 27 further offices around the UK. Until the 20th century, Coutts clients were mostly nobility and the landed gentry (the British Royal Family is a client) but now manages the wealth of other high net worth individuals such as entertainers, sportspeople and entrepreneurs.
Prospective Coutts clients must meet strict requirements in order to be accepted, including having at least £1,000,000 in investable assets (real estate excluded).
Coutts Products and Services
Private banking customers can manage their everyday banking needs with a Coutts current account, available in several major currencies as well as pounds sterling. Customers who do not need instant access to their money can also opt for a deposit account if preferred.
Current and deposit accounts are also available for business banking customers, as well as a flexible range of short, medium and long-term commercial borrowing options. Coutts works with business customers in sectors including commercial real estate, financial services, hotels and independent schools.
Coutts offers clients a range of exclusive wealth management services, including deposits and borrowing, provided by specialist teams. Available specialist planning services include wealth succession, wealth protection, charity services, philanthropy and family business options.
Coutts customers also have the option to make online investments, with a range of portfolios to choose from based on their attitude to risk:
Personal Portfolio 1 – the lowest risk, designed for conservative investors who want stable returns
Personal Portfolio 2 – slightly higher risk, but potentially improved returns
Personal Portfolio 3 – for investors who accept more risk and possible fluctuations in value
Personal Portfolio 4 – for investors who are more comfortable with risk
Personal Portfolio 5 – for adventurous investors who are prepared to risk more for potentially stronger returns
Eligible deposits with Coutts are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Deposits over this amount will not be covered. Eligible claims for investments are usually covered up to £50,000 but not all types of investments will be covered.