As a result the offices in Jersey, the Isle of Man and Cayman will become ‘centres of excellence’ for the Coutts Group trust and fiduciary services.
The small client relationship offices in Guernsey, Bermuda and the Bahamas will be wound down in the next six months.The changes are part of a reorganisation programme ‘to maximise efficiency and reduce duplication’.John Heaps, a director of Coutts Offshore and head of trust and fiduciary services in the Channel Islands and the Isle of Man, said the move would undoubtedly bring more business for the Broad Street office, which employs around 130 staff.
