People Moves
Coutts Drafts In Mercer For Fund Selection Advice
Coutts, the UK-based private bank which is part of Royal Bank of Scotland Group, has drafted in the consultancy firm Mercer to assist with manager selection across its private client portfolios, Citywire reports.
Under the partnership, Mercer’s investment consulting team will help both Coutts and RBS Coutts - the group’s international private bank - with the selection of active managers across various asset classes. Mercer will function as a “sounding board” to screen managers and to suggest funds, a spokesperson for Coutts was quoted as having said.
Adam & Co will be sticking with its current in-house fund selection process, the report said, adding that RBS did not rule out Mercer being brought in to assist the group’s Scottish private banking business in the future.
In another recent significant change at Coutts, in February came news that RBS had appointed Ian Ewart as director of marketing for its wealth division, a newly-created global role in which he assumes responsibility for the marketing and communications strategy across the group’s four international brands: Coutts & Co, RBS Coutts, RBS International and Adam & Company. He is charged in particular with spearheading the group's efforts to enhance all aspects of the client experience, and now reports to Rory Tapner, chief executive of the unit.