Swiss UBP buys Coutts, 'bank of the rich and famous'

Swiss bank UBP announced Friday it would acquire Coutts private bank, which counts Britain's royal family among its rich and famous customers.
The bank has been the Royal Bank of Scotland's international private banking and wealth management arm since 2000, managing assets of more than $30 billion.
The sale follows RBS's decision to create a UK-focused bank, and includes business managed from Switzerland, Monaco, the Middle East, Singapore and Hong Kong, the bank said in a statement, without providing details on the sales price.