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Coutts Intl CEO exits following sale to Union Bancaire Privee

[ZURICH] Royal Bank of Scotland's overseas private banking arm, Coutts International, said on Thursday its Chief Executive Alexander Classen would leave, which comes shortly after Union Bancaire Privee (UBP) agreed to buy the wealth manager. "We confirm that Alexander Classen has decided to leave the organisation," Coutts International said in a statement. Reuters reported the news on Tuesday, citing a source.

The veteran Swiss private banker will be replaced by Michael Blake, who is currently the unit's general manager in Asia and will relocate from Singapore to Zurich.

REUTERS