Coutts bank in tax probe
The BBC has reported that German prosecutors are investigating the Swiss-based private banking arm of Coutts (owned by the Royal Bank of Scotland) over allegations it helped clients evade tax.
RBS said that the investigation involved current and former staff as well as the bank itself.
Coutts' international operations are currently for sale as part of its drive to focus on the UK business.
A buyer would have to find a new name for the international operation as RBS intends to keep the Coutts brand for the UK business. Coutts manages the Queen's private accounts.
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