Bloomberg News

Coutts Hires Private Bankers From Citi, Sarasin for Middle East

February 09, 2012

Feb. 8 (Bloomberg) -- Coutts International, a wealth- management business owned by Royal Bank of Scotland Plc, hired three private bankers to serve Middle East clients and is seeking more staff for the region.

Akram Khattab joins the firm from Bank Sarasin & Cie. AG’s Alpen unit and Ali-Reza Vahabzadeh from Citigroup Inc.’s wealth unit, the company said today in an e-mailed statement. Both will be based in Geneva. Coutts also appointed Arjun Mittal from Sarasin as Dubai-based head of non-resident Indian customers.

“The Middle East is one of our core markets for growth,” Alex Classen, Zurich-based chief executive officer of Coutts International, said in the statement.

Coutts International, which employs 25 staff in its offices in the United Arab Emirates, plans to recruit another 20 people to serve Middle East clients this year. The RBS-owned business managed 41.8 billion Swiss francs ($45.8 billion) for clients worldwide at the end of 2010.

--Editors: Dylan Griffiths, Francis Harris.

To contact the reporter on this story: Giles Broom in Geneva at gbroom@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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