Swiss bank UBP announced Friday it would acquire Coutts private bank, which counts Britain`s royal family among its rich and famous customers.
The bank has been the Royal Bank of Scotland`s international private banking and wealth management arm since 2000, managing assets of more than $30 billion.
The sale follows RBS`s decision to create a UK-focused bank, and includes business managed from Switzerland, Monaco, the Middle East, Singapore and Hong Kong, the bank said in a statement, without providing details on the sales price.
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