The only stipulation is that the user must be an existing client of the private bank.
Coutts says the launch followed “a successful pilot” and users were able to “link seamlessly from their LinkedIn profile for quick registration.”
Once membership has been approved, users are able to contact each other, seek advice, ask questions, advertise for Non-Executive Directors, or seek contacts to work with on new business opportunities.
Aimed to appeal to successful entrepreneurs and angel investors in particular, the network is open to all clients ranging from senior city professionals, through to sports stars, musicians and landowners.
The site uses matching algorithms to link users together with others who share their interests or could meet their needs.
Users are able to pose questions in a group chat, or private message other users.
Subscribers are also able to advertise positions, business opportunities and collaborations, or browse other members’ profiles and invite them to respond.
Like other social media sites, posts can be public, private or restricted to a specific audience.
Stuart Newey, head of banking at Coutts said: “For three centuries, Coutts has gone beyond the ordinary role of a bank by introducing our influential and successful clients to each other so that together they can achieve great things.
“Being a part of this ‘Coutts Community’ is what draws many new clients to bank with us and we believe that we have a client base that is the envy of the world.
“Traditionally, this has been done through networking events and face-to-face meetings, but to meet the demands of an increasingly fast-paced and technology-driven world we have now launched our own networking site.
“By keeping this to clients only, we recognise the appeal that this brings to its users and we hope that this new tool will be a catalyst for many new business deals.”