Wealth manager and private bank Coutts is to launch in Scotland.

The NatWest-owned company will launch with a team led by Alisdair Dewar and will have offices in Edinburgh, Glasgow and Aberdeen.  

The company says the move follows the completion of the sale of its Adam & Company investment management business to Canaccord Genuity Wealth Management.  

The change at Adam & Co, the main group brand for private banking in Scotland, paves the way for Coutts to relaunch as a brand in Scotland.

Coutts says it is building on its Scottish roots which date back to 1692.  Its origins lie in three Scottish families: the Campbells, who founded the original goldsmith-banking shop; the Middletons, who moved the business to banking and the Coutts family who laid the foundations of the modern bank. 

Notable Scottish clients for the bank in the past have included Sir Walter Scott, Sir Charles Bell, John Rennie and Andrew Carnegie.  

Coutts says the launch will make it more convenient for Scottish clients to access Coutts private banking offering. Coutts is also a centre for investment and asset management expertise across NatWest Group.  

Peter Flavel, CEO of Coutts, said: “This exciting development allows us to provide an on-the-ground Coutts presence in Scotland.  We’ve had an excellent track-record with Adam & Company, and we are delighted that we are able to continue serving Scotland’s private banking market with a wider product and service offering.                        

“Scotland is an important part of the NatWest Group’s heritage and through our network of Scottish offices and experienced locally-based team, our commitment to our clients and colleagues remains unwavering.  A big focus going forward is to create value beyond products and services by helping clients achieve their goals without compromising their values. Doing well by doing good can go hand in hand and for us, responsible investing isn’t just the right thing, it’s the smart thing.”

Current Adam & Company banking and lending clients will continue to be served under the Adam & Company brand until the proposed integration of the business into Coutts in mid-2022, subject to the approval of the Court of Session.