Coutts is pleased to announce the development of its Jersey base as the centre for its growing International Trust business. Through increased investment, the business will enhance its offering which comprises trust and company structures in support of clients' long term financial goals. In line with this, Coutts will be withdrawing from the Cayman Islands and restructuring its Trust business in Geneva. Coutts remains committed to Switzerland, a key hub for its onshore and international business.
· Through the development and expansion of the Jersey operation, Coutts will invest in product, services, training, infrastructure and recruitment to create a flagship Trust company, from a single centre of expertise.
· The specialist centre will focus on providing best in class wealth structuring solutions for clients on an international scale.
· Sharpening the focus will allow for the development of the ‘trusted adviser’ model – the bringing together of the collective expertise of our advisers – complementing our approach to client relationship management through the building of intelligent relationships.
· Jersey will be a centre of expertise with significant opportunities for our staff and our clients alike.
· Jersey is an attractive base for Coutts’ International Trust business, given its long history as a stable and secure jurisdiction, the quality of trust law and the significant talent pool of trust and fiduciary professionals on the island.
· Coutts has been operating in Switzerland since the 1930s and has a committed presence in Zurich and Geneva. We remain fully committed to Switzerland as a core market for Coutts and the hub for our onshore and International platform.
· We are committed to finding the right purchaser for the Cayman business and will make an announcement regarding the sale of this entity in due course.