Royal Bank owner linked with sale of private banking operation

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By Scott Wright

ROYAL Bank of Scotland owner NatWest Group is exploring the sale of its Adam & Co private banking division.

Speculation has emerged tonight that the state-owned bank has been holding talks with advisers over the potential disposal of the majority of the Adam & Co operation. It was reported that a number of players are competing to acquire the bulk of Adam & Co, with a price-tag of £50 million mooted.

According to the report, the lending book of the operation will be folded into Coutts, one of NatWest’s other private banking units.

The bank has been approached for comment.

NatWest will publish its annual results on Friday.

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