Coutts sets up advisory board for MidEast expansion

Wealth division of Royal Bank of Scotland Group says move will shape 'ambitious plans'
Coutts sets up advisory board for MidEast expansion
Coutts is the wealth division of Royal Bank of Scotland.
By Andy Sambidge
Sat 12 Oct 2013 10:44 AM

Coutts, the wealth division of Royal Bank of Scotland Group, has announced the creation of an advisory board to help shape the company's expansion plans in the region.

The company said in a statement that the Middle East board will help to "broaden and shape Coutts' ambitious plans", adding that it will aid "hiring and driving financial performance by strengthening client relationships".

The board will initially comprise nine influential members with long and varied experience of conducting business and advising clients in the Middle East, Coutts said.

The consultative body will meet twice a year to provide counsel to management in the region, the Coutts International Management Committee and the division's Executive Committee.

Alex Classen, CEO, Coutts International said: "We will be growing the advisory board over time to include further regional representation as we continue to expand our commitment to this important market for Coutts."

Coutts has been present in the Middle East for many years and opened its first representative office in the UAE in Dubai 13 years ago.

The firm has regional offices in Dubai, Abu Dhabi and Doha and, in 2011, announced its intention to grow the business in core international markets, including the Middle East.

In April, Coutts hired Michael Dismorr, previously with Deutsche Bank, as a managing director for its expanding Middle Eastern operations.

Dismorr, who is based in Dubai's tax-free financial centre, was previously the regional head of Deutsche Bank's business of advising its key clients and a chairman of the German lender's Middle East advisory board.

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