Coutts has begun the process of integrating Financial Planners and wealth managers from its Adam & Company business into the main wealth management and banking firm.

Coutts agreed the sale of its Adams & Company investment management business and AIM legal entity earlier this year.

It will also integrate the remaining banking and lending teams.

Coutts said the integration is part of its “drive towards even greater simplification” and with the integration it will create a new regional Coutts Scotland team across its three existing Scottish Offices.

The private banking firm said the new structure will also result in a “single investment philosophy as well as a simplified and more cost-efficient technology model across NatWest Group’s Wealth Businesses.”

The announcement was made as part of the bank’s quarterly results. Total Coutts operating profit for the first quarter of 2021 was £64m, an increase of 31% year on year. The growth was driven by increases across lending, deposits and wealth management/investments.

In January, Coutts announced a relaunch for its private office for UHNW clients under the new brand Coutts Family Office (CFO).

Coutts said the new-look CFO division will open the door for clients to access more services from parent company NatWest and third parties such as Blackrock.

Coutts already offers discretionary and advisory investment management services as well as advice on philanthropy, family businesses, succession planning and commercial banking.