The Newsmagazine for Coutts December 2004

FIGHTING BACK AFTER CAYMAN DEVASTATION EVASTATED by Hurricane manager, Richard Rogers, to help Ivan, Coutts’ Cayman office HURRICANE IVAN – THE OTHER STORY out. “We didn’t have the time or is getting back on track says resources in Coutts Offshore to D ■ TURN to the centre spread to read about the experiences Chris Burton, chief executive, of Cayman managing director,Andrew Galloway, Cayman- handle this scale of crisis, so Richard Coutts Offshore. based CRM, Greg Brookes, and head of enterprise risk, agreed to get involved and pulled the “Last month, our back office Sarah Owen-Jones, who co-ordinated the action plan whole project together. He has been operations moved back to Cayman from London after Hurricane Ivan hit the islands. invaluable,” said Chris. after relocating to Jersey following Immediately after the storm, staff the hurricane,” confirmed Chris. constantly to try and find out “Ordinarily, we would have to go in Jersey began working around the “And our relationship managers, whether our staff were okay.” through Coutts International, Coutts clock to ensure all of Cayman’s back who moved to Zurich, will return to Sarah contacted Group Business Group and the RBS group to get these office functions were operating out the island for Christmas.” Continuity Operations who convened decisions signed off. The ICG were of Jersey by the following Friday. Chris hopes that Coutts’ Cayman the Incident Co-ordination Group (ICG). able to cut through that and Meanwhile, Sarah and the ICG office building, which was battered by “A lot of important decisions needed were brilliant.” were organising an RBS- the storm, will be repaired by the end to be made about our staff and Sarah also organised for chartered evacuation flight of June 2005.“Most companies are in business situation,” Chris remembers. Change Management project ■ Continued on page 11 the same position here, so getting the building work done is taking a bit longer than expected because of the demand. But, at the moment, we’re Living it up working flexibly in rented space to overcome this,” said Chris. Enterprise Risk was Chris’s first in Bollywood phone call when the hurricane hit on Sunday 11 September. “I told head of ■ THERE’S an elephant enterprise risk, Sarah Owen-Jones, that in there somewhere! we had a serious situation on our A fantastic night was had, Indian-style, at hands.We had adhered to all the usual the Christmas Party hurricane precautions – putting up the in London. shutters on our building and sending back-up tapes off the island, so that we could run things from there if the situation worsened. But we hadn’t anticipated the scale of the devastation. “All the phone lines to Cayman Story and more pictures were down and communication was Pages 16, 17 impossible. I had people calling

You need New card Spencer is to know lights up our king of us better! the world Kung-Fu Page 7 Pages 10, 11 Pages 14, 15 Chief Executive’s Briefing

RE- is something Coutts’ staff have become It’s been all about increasingly familiar with over the last few months. In early November, Entrepreneurs client group head, David Gregory, announced Coutts’ re-sponsorship of the 2005 Entrepreneur of the Year Awards at an event in that everyone can the Strand. Later in November, the World Signia Card was re-launched as the ‘sexy’ (designer, Ozwald Boateng’s words) new Coutts World Card. HOPE you can see and feel And who is Internal Communications to that the business is be left behind? In August, we asked for your “Ichanging and that we are feedback on Coutts News and were delighted serious about listening to and to discover that, after five years, you still acting upon your ideas and think it’s an interesting, informative, and feedback.” enjoyable read. However,one issue continues Sarah Deaves, chief executive, to crop up; size.According to feedback, you was speaking at the November would like something smaller, a magazine briefing, attended by 200 people which you can fit in your bag or file away in from across Coutts UK. a folder. Reflecting on 2004, she said:“For So, not only has Internal Communications me, it has been about teamwork finally decided to re-shape the magazine, we and the fact that we can all make have also decided to re-vamp and re-launch a difference. it next April.And we’re interested in hearing “We started with Unlocking your thoughts. How do you see the re- Excellence and then we vamped Coutts News? And what types of developed a brand proposition articles and features would you like to see with everyone’s input.We’ve had more of? In January, we will be asking staff forums to discuss Coutts for their views. If you are interested in Unsurpassed, communication, talking to us, send an email to the Internal leadership and client service.The Comms mailbox. Make Your Mark conference But, for now, kick back, enjoy the read, have focused on individual and team a merry Christmas and see you in 2005! performances and, now, we have opened up these quarterly Contents briefings to staff across the business, not just senior 2,3 Chief Executive’s Briefing managers.” ■ TOP TEAM: Left to right are: Stephen Fletcher, Sean Knights, Sarah Deaves, 4,5 Entrepreneur awards get a lift into 2005 Thanking everyone for their Gordon Pell, Rebecca Le Gresley, and Will Quantrill. Relationship matters most to clients efforts during 2004, Sarah SCPs chart their course in Hong Kong stressed the importance of Stephen Fletcher, head of of opportunity for us to work 6,7 Improved service for PBs maintaining momentum. She Commercial Banking, told the closer together.” You should know us better, revealed: “We have ambitious audience that his team had had a The Q&A session was hosted say secretaries growth plans and are aiming to ‘fantastic year’. by senior manager, Rob Currie, 8,9 Zurich celebrates merger double our profits over the next “The major contribution that and senior private banker, Duncan WorkOut events hit Hong Kong three years. Commercial makes to the Ross. Questioned on Coutts’ IT Specialist Advice generates £2.3m “The regional expansion business is very much systems, Sarah agreed that these 10,11 Terror in the eye of the hurricane programme, London growth acknowledged and we have were fundamental to achieving strategy, International activity, the stretching growth aspirations for Coutts Unsurpassed. “Problems Ozwald’s purple patch commercial restructure, Cadogan the years to come,” he said, are largely because we are not on 12,13 Have you noticed..? and the Fast Track programme urging the client groups to invite the RBS group platform,” she said, Breakfast starts diversity programme are critical elements of our plan commercial bankers to attend confirming that plans are being Top team take to the track and we are seeing results.” their team meetings.“There’s lots developed which, if approved, will US desk hit 130mph radically enhance the systems. 14,15 How scary is it being a Coutts graduate? ■ STAFF at last month’s Chief Executive’s Briefing were Kung Fu would lure Spencer to Shanghai from right across the business, with staff being able to self- ■ RESULTS from YourFeedback 16,17 Brilliant night at Bollywood nominate to attend via the intranet. 2004 indicate that people feel Jason Fernandes, programme office analyst, Change Prince’s Trust arts sponsorship Coutts UK is changing. Management, was one of these. He commented:“I was Significant improvements were 18,19 High drama as Mark takes on interested in finding out more about what goes on at these Mt. Kilimanjaro seen in all categories compared briefings and to hear what the main focus is for next year. to January 2003. Sixty eight per Top client cycles his way to £320,000 “I particularly enjoyed listening to Gordon Pell. I’ve cent of respondents agreed that In my experince… Ylva Baeckstrom never heard him speak before and wasn’t expecting him there is a climate where people 20 Diary to be so funny or so straight forward and honest about the can challenge traditional ways of business. I helped give our team a briefing on the event and doing things – 23 per cent up on encouraged them to put themselves forward for the next one.” January 2003 survey.

2 Chief Executive’s Briefing Nominations teamwork, proving roll in for Seville trip

OMINATIONS for the make a difference Wealth Management NExcellence Awards poured in from across Coutts Group between August and the HREE private bankers end of November. demonstrated Coutts Over 350 staff in Coutts UK TUnsurpassed in action at last received an individual or team month’s Chief Executive’s Briefing. nomination from their fellow Will Quantrill, senior client colleagues or managers for partner (SCP), Cambridge, said that excelling in exceptional client as a result of the recent SCP service, continuous improvement, conference in Hong Kong (see page breakthrough thinking and/or 5), a UK SCP forum has been set up. business growth. It will provide ‘undiluted’ feedback Nearly 100 of these to Sarah Deaves on all aspects of nominations came via the client service. With SCPs making a intranet feedback form.While significant contribution to income more than 150 came through generation,Will said they would be other recognition schemes, developing their role as opinion following the announcement by formers, ambassadors and mentors Sarah Deaves, Coutts UK chief to up and coming private bankers. executive, that staff who received Sean Knights, private banker, an award at ValYou, Making it Entrepreneurs, said Coutts really Happen or incentivised sales does deliver ‘more than money can campaign, would be auto- buy’ experiences to its clients.With matically nominated again. the help of the special events team, Nominations also came in from Sean organised a champagne ■ MEETING POINT: Time for a break at the Chief Executive’s Briefing. across Singapore, Hong Kong, reception and art exhibition, in Switzerland and Offshore. conjunction with RBS Oxford All Coutts UK, Coutts Inter- Circus branch and the Belgravia Sean proves ‘We national and Adam & Company Gallery. The event was hosted by nominations are currently with Coutts chairman, Lord Home, and Wealth Management ExCo, who works on display included four deliver more than handpick the 85 lucky staff who pieces from HRH Prince Charles’ get to pack their bags and fly to private collection, plus paintings by Seville, southern Spain, in March Nelson Mandela and Picasso. “No money can buy’ for four luxurious days.Winners other bank in Britain can deliver will be announced in January. such an event to clients – “We sign up criteria clients before according to Rebecca:“Some of the understated, discreet and exclusive.” they become criteria.” Since May best leads have come internally Rebecca Le Gresley, Cadogan 2004, 120 clients have been signed from staff referring friends and Depolarisation client group, was the first private up, and there’s a growing pipeline. associates.” The Fast Track team update banker to join the Fast Track Many clients are applying via the promises a bottle of champagne for (Seedcorn) team. She explained: Coutts internet site. Although, every introduction. ■ FOLLOWING the FSA’s decision that depolarisation should take place between We’ll make the targets, says Gordon January and May 2005, Coutts’ plans are underway to introduce ORDON PELL, Coutts Coutts Asia has experienced On a lighter note, Gordon it on a ‘phased’ basis. Group chief executive, significant organic growth, and mentioned the launch of the Kate Turner, head of specialist Gand executive director Switzerland is consolidating new Coutts World Card, advice, commented that Coutts of Wealth Management division, well. I’m really pleased with which saw 440 Strand lit up is likely to depolarise as late as congratulated UK private where we are right now.” in purple neon lights for a possible to help smooth transition bankers on a ‘superb effort last Commenting that Coutts week (see centre spread), to the new distribution model. year’. Group had a superb first half in and which Ozwald Boateng, “We can move to the new Gordon, speaking from a 2004, he said: ”We need to do speaking on a TV news distribution model before Wealth Management the same in 2005. There are programme, called ‘sexy’. depolarisation happens, which perspective, said:“Adam & some stretching targets, but “Sexy? I’ve tried 14 different means that the number of staff Company and Coutts UK are everyone feels we can make things with the card, and it directly affected by depolarisation going like a train.The Offshore them. We just need to stay still only works in an ATM will be restricted to the Specialist Banking Group is back on track, ahead of the game.” machine,” Gordon joked. Advice team,” said Kate.

3 News Relationship matters most Entrepreneur awards to clients

ELATIONSHIP is still the key word for get a lift into 2005 Rclients, according to the latest client satisfaction survey results. The seventh wave of NTREPRENEURS client group research, published this month, head, David Gregory, once again revealed that the Eannounced Coutts UK’s re- predominant client need is for sponsorship of the 2005 PBs to understand their Entrepreneur of the Year Awards at an requirements, and to be event in the Strand in November. proactive with this knowledge. Pledging to build on their Of the 363 clients experiences and relationships with interviewed, including Ernst & Young, the award nominees, Commercial and International award winners and judges of last clients for the first time, year, David commented: “We were loyalty to Coutts is high. very excited about this sponsorship Ninety-three per cent from day one and announcing our re- said they would definitely or sponsorship has only enhanced this! possibly open an account with Coutts if they were to make EoY FACTS the decision all over again. ■ TALKING POINT: Nevada Mohammed spoke about his success with EoY in 2004 as Nearly 40 per cent had already ■ THIS is the sixth year of Kelly Emery, Coutts’ EoY national co-ordinator, gears up for the 2005 re-sponsorship. recommended Coutts to the awards London, spoke about their Coutts’ meeting results. someone they knew, and ■ PBs met 139 entrepreneurs experiences with 2004 award “This is a long programme,” 46 per cent said they would do from across the UK in 2004 nominees and highlighted some of commented Peter.“You’ve heard the so if their PB asked them to. ■ UBS and Citibank the success stories they had winning stories and you know that to make “There is a massive sponsored the awards new clients. this a success, you need patience and opportunity for both prior to Coutts Then Peter Mawdsley, regional determination. This time, we are commercial and private ■ PREVIOUS winners are client group head, spoke about going to be more prepared to push bankers to ask for new client LK Bennett and some of the pitfalls from 2004 that the commercial and fast track referrals,” commented Perry Carphone Warehouse would be avoided this year. Last opportunities available to the Littleboy, head of marketing year, PBs had trouble attending a different nominees.” & business development. “I don’t think anyone realised the number of the nominee interviews David Gregory concluded the Clients are looking to quality of the entrepreneurs that because meetings were scheduled launch event by insisting that, while Coutts to be cutting edge, would be sitting in front of us last with little or no notice. For 2005, interviews with award nominees will innovative, sophisticated, year. Now, we’re going to build on PBs are being encouraged to free-up begin in February, Coutts’ 2005 and the best of British, those experiences and start planning their diaries for the 200-plus sponsorship starts straight away. according to the research, for 2005 with even more vigour.” interviews being held between He appealed to PBs to start looking and they rated Coutts well on Attending the event, which was February and April. And a new at their clients with a view to putting unsurpassed service, expertise held in the presentation rooms at database is also being developed them forward as award nominees and being a trusted adviser. the Strand, were Sarah Deaves, chief this year which will better track and/or judges. However, small errors in executive of Coutts UK, Les day-to-day banking continue Clifford, Entrepreneurial and to concern clients and Growth Markets leader for Ernst & prevent Coutts’ satisfaction Young (E&Y), private bankers (PBs) Bill hit black gold figures from rising further. from Entrepreneurs client group, representatives from Commercial ILL GAMMELL won In 2002, he bought the ■ COUTTS was awarded Cool Banking and Cadogan, and press and this year’s award for remaining 50 per cent of the Brand status in the new Cool events teams from Coutts and E&Y. Bhis oil and gas business, field, a desert area equivalent Brand Leaders book published Sarah commented: “I was very Cairn Energy. Gammell, an to 30 North Sea blocks. by Superbrands recently. impressed by the quality of people in ex-Scottish international rugby In January, after 15 drill Tens of thousands of brands the national final – the range and player, launched the company tests found nothing, they were submitted before a type of businesses and professionals with a friend 24 years ago after drilled again and hit black shortlist of 700 was drawn involved. This is a great opportunity tiring of insurance broking. gold. Bill paid approximately up. Other brands to make to build upon our reputation and It was oil, he decided, that £10million for assets the final cut were Selfridges, relationships with entrepreneurs, and inspired him. that are now valued at Dazed & Confused magazine, win some new and exciting clients.” Gammell bought 50 per £1.5 billion on the stock lingerie line Agent Provocateur, PBs Julien Nield, Manchester, Stan cent of an oilfield from Shell market, and is worth more Diesel and Guinness. Allen, Nottingham, Bob Dixon, in north-west India in 1996. than £30 million. Newcastle, and Nevada Mohammed,

4 ONG KONG was the destination for the second- Hever senior client partner news in (SCP) offsite following its initial success in Switzerland last year. brief Thirty five Coutts Group 1 executives, senior managers and ■ OVER £200,000 is being senior client partners from across saved every year as a result the UK, Europe and Asia came of the WorkOuts taking place together for three days in November across Coutts Group. and brainstormed the direction and Gordon Pell, chief executive, role of SCPs for the next 12 months. Coutts Group, lent his support Peter Krismer, senior client to Coutts’ eighteenth WorkOut partner, based in Zurich, who in November, which assisted originally came up with the idea for the investments centralisation an SCP network and offsite, was project happening under delighted with the outcome. He Martin Thurnum, head of commented: “This year’s offsite was client operations. bigger and more successful. We Three proposals were spent three days together which was presented to Gordon and well organised and were given high the other judges; Ed Colyer, level attention from Gordon Pell, Jackie Lee and Andy Braisted, Nick Pollard and Gary Adlam which and all three were given the was very useful.” go-ahead. Martin commented: The 22 SCPs spent their days “This has helped remove defining the SCP role, suggesting the last operational barrier to senior management ways of ■ LEARNING CURVE: Mark Jankovich and Mark Bevan. to the investments making the centralisation project.” business more productive, ■ PRIVATE health cover was sharing success SCPs chart their new the most popular preference stories and chosen by staff across Coutts best practice Group in RBSelect 2004. with each course in Hong Kong Buying holiday was the next other, and then most popular preference, networking in the evening. investment partner. He found the followed by critical illness “We decided that our role in the I learnt more offsite ‘one of the best get-togethers cover, dental insurance and business is client focusing and ‘ about the I have ever been to’ during his days childcare vouchers. revenue driving – so we’ve put some at Merrill Lynch and Coutts. Nearly 58 per cent of staff plans in place to ensure we continue international “People were coming together across Coutts Group used to focus and drive these two things business during with a collective objective.We were RBSelect this year compared forward,” revealed Peter. able to discuss and plan for the with 56 per cent across the The UK SCPs have set up an SCP the three days future, put some suggestions to wider RBS group. Forum which meets regularly to than I have in Gordon Pell, and managed to get discuss issues affecting clients and some of them signed off then and ■ COUTTS Group Securities revenue generation. The SCP Forum the last ten years there.” Services (CGSS) consolidated will report directly to Sarah Deaves, Mark Bevan’ Mark Bevan concluded: “Hong into one office this month. and act as ‘the client voice’ as well as Kong also made us London-based As announced in May, a channel for the issues affecting the found the offsite much more SCPs realise how little we actually the CGSS International sales force. International SCPs will informative and useful than he communicate with each other even Operations office in London be holding monthly teleconferences thought he would.“Sometimes these though we’re seated just feet away. closed and the work has with each other. type of events can be a lot of “Communication is just so been migrated to Crawley. Christina Yip, SCP in Hong Kong, hot air but I learnt more about the important. Communicating with each Commenting on the move, commented: “We put to senior international side of the business other and senior management the way Sally Brown, head of CGSS, management that we would like to than I have in the last 10 years we did in Hong Kong will pay off in the said:“The decision to close have a voice with ExCo and get working for Coutts.” future. I think everyone will be much International Operations was more involved in the policy setting Admitting that the promotion has more approachable about any future not taken lightly but, from stage of things, so that we can its challenges, namely ‘higher sales issues or suggestions they might have.” a business point of view, it represent the PBs’ collective view targets which are somewhat Peter Krismer is already finding makes sense. before business decisions are made. daunting!’, Mark found the success the communication paying off.“I had By consolidating CGSS “We can then communicate back stories shared during the three days an introduction from Esther Heer in in Crawley, there is more to PBs why certain decisions are a great help. Hong Kong this year which would business growth capacity, being made and become a more “It was interesting to share have gone somewhere else if we no duplication of process effective bridge between private experiences with the international SCPs hadn’t made contact via the SCP and control activities, bankers and executive management,” and discuss how they broke down offsite. I think it’s reassuring to know and extensive training has she concluded. barriers to do business,” he observed. you can introduce your clients to taken place to make this Recently promoted to SCP, Mark Mark Jankovich was recently the right people at the right level,” new move a success.” Bevan, Landowners client group, appointed the first ever senior he concluded.

5 News Improved service for PBs comes top of target list

T’S BEEN a busy year for Gayle to maintaining and building our Schumacher. Not only has she investment reputation,” she Ibeen setting up a new service to confirmed. provide private bankers with One of the first things Gayle has answers to their investment queries, done in her new role is create a she has also been involved in team, Client Support, which directly identifying ways to enhance the supports private bankers with any investment proposition across investment queries they have from Wealth Management as part of her existing clients. new role as head of the investment “There has always been performance team. investment support here for PBs, but ■ BUSY LADY: Gayle Schumacher, head of investment performance team. Since Coutts’ Investment we have increased resources, made department became Investment Management, the fifth separate entity GAYLE’S ROUTE TO THE JOB currently receiving more challenging within Wealth Management division, enquiries on investment performance,” earlier this year, the former head of ■ SHE has a BA in economics from Stanford University, California, conceded Gayle. research has been ‘much more and first worked as an oil analyst at Wood Mackenzie, Edinburgh. Gayle is also heavily involved in engaged with the broader business’. ■ IN 1985, Gayle joined merchant bank, Robert Fleming, where work currently underway to While her Investment she worked as an equity analyst and then as a unit trust and refresh the investment proposition. Performance team continues to have pension fund manager. “Our wealth proposition was a key role in supporting the ■ IN 1990, she took a year out to complete a masters at the revolutionised five years ago with Investment Strategy committee (of Institute of Latin American Studies, London, before joining the introduction of Orbita and which Gayle is a member), it now Gartmore, as a UK pension fund manager. the Multi-Manager system. Now also analyses and manages the ■ GARTMORE was bought by NatWest and, from 1998, Gayle we need to start looking at how performance of investment products was working closely with Coutts’ Andrew Hutton. we can refresh and improve our provided to Coutts UK, Coutts ■ WHEN Gartmore was put up for sale in 1999,Andrew invited proposition to ensure our International and affluent banking. Gayle to become head of investment research at Coutts. investment products sustain their “When Byron Coombs re- “I thought it would be challenging to go from pension funds to leading position,” she confirmed. organised the investment department private clients,” she says. No stranger to managing several in the summer, he decided that the ■ IN 2004, she became head of the newly formed investment projects at once, Gayle has been only way to properly assess how our performance team which includes:Asset allocation (ISC work), doing this with her work and investment products were performing, Product Management, Investment Communications, home life for most of her career. was to create a single team for it,” Performance Measurement,Third Party Management and now “I have five children and the commented Gayle. Client Support. youngest is just five,” Gayle said. “As a result, we’re now getting a “Having a successful work/ broader understanding of the key it a core competence in some job “As a fund manager at Gartmore, life balance is very important to me. drivers to their performance. We’re profiles and introduced an investment I remember how important it was “But in order to maintain that I clear about where we have done help line. I expect the quality and to be well briefed before client have to be well organised.When I’m well and where we need to focus timeliness of our support to PBs to meetings and, in this regard, I can at work, I’m very focused on that. more attention, which is crucial significantly improve as a result. identify with the PBs who are And likewise when I’m at home!” Investment management afloat! N SEPTEMBER, over 100 members of build a thriving investment business over Ithe Investment Management business the last five years. boarded a riverboat at Embankment Pier Led by Byron Coombs, CEO of and headed downstream.Their Investment Management, attendees destination? Shakespeare’s Globe Theatre had a guided tour of the theatre and on the south bank of the Thames.The were royally entertained by Elizabethan occasion? A party to celebrate the minstrels, caricaturists and wandering business’ creation this July as a separately magicians. managed business within Wealth “It was a wonderful evening,” recalled ■ ALL ABOARD: James Wilkinson, Sinead Huges and Daniel Sainsbury. Management, and its success in helping to Byron “and a good start for the new team.”

6 News news in brief 2 ■ BORIS JOHNSON, editor of The Spectator, attended the book launch of Christopher Fildes’ A City Spectator which took place at the Strand’s Garden Court in mid-November. Over 100 literary elite supported The Spectator and Daily Telegraph columnist on the night, including Mervyn ■ RAISED PROFILE: Maxine Norris, Ellen Bellamy, Wendy Smith, and Mandy Stephen, who are all based at Fleet Street, and Tina Kitsiou, Strand. King, former Governor of the Bank of England, who wrote the foreword for Fildes’ book. The book is Fildes’ personal You should know more recollections and highlights over 20 years of writing his famous column City about us, say secretaries & Suburban. ■ HEN a growing number come together and discuss how best the keys to the offices, deal with NICK POLLARD, HR of secretaries from to do it. The event was opened by health and safety, fire and premises director,Wealth Management across the bank started Sarah Deaves, chief executive, issues, and the cleaners.They’re also Division, spoke at the Diversity W in Action conference organised to become frustrated in their jobs Coutts UK, who spoke about how the point of contact if the burglar earlier this year, a small group of important it was for her to have a alarm goes off.” by The Guardian and Observer them came together to discuss what secretary organising her working Due to these variations, PEF role newspapers in Westminster could be done. day, ensuring both she and the profiles do not represent the in October. “While the salary capping, which business got the maximum benefit numerous tasks being undertaken by The conference, which was was brought in with the RBS out of her time. secretaries across the business. sponsored by the RBS group, terms and conditions last year, Then a mini WorkOut was held To work around this, secretaries, was attended by over 200 delegates from across the sounded like the initial problem,” with secretaries to identify their together with their managers, are country, with speakers observed Tracy Fox, secretary to core role. now setting their own objectives for including a Cabinet Office the head of marketing & business “It was interesting to see how the the year ahead, and it is hoped that diversity adviser, assistant development, “it soon became role responsibilities inside London secondments to other areas of the general secretary of TUC, obvious that secretaries needed compared with the regions,” business will become a further Canadian Minister for trade people to understand more about commented Gill Frith, former option for them. and industry, and diversity what they do. Hence, it was secretary to Andrew Haigh, and now A quarterly networking event is directors from companies decided that we needed to raise marketing and events manager. being organised to follow up any including: BSkyB, Royal Mail our profile.” “In the regions, as well as issues and to continue their and HSBC. In September, Tracey arranged providing organisational support to progress in ensuring that secretaries for over 50 secretaries from across their teams, secretaries assist on the are now supporting each other, as ■ COUTTS scooped a the London and regional offices to marketing and events side, manage well as the rest of the bank. prestigious award at the Financial Innovation Awards ceremony in November. Spreading the word to the JCC Organised by the Institute of Financial Services (IFS), WENTY FIVE of London’s professionals to Coutts,” On the night, Dan Edwards, Coutts won Most Innovative Tyoung movers and shakers commented Veena,“and it was private banker, spoke to attendees Application of Technology – attended an evening of an ideal opportunity for me and about investments. George Data Management Solution entertainment and information some colleagues to make some Mattar, senior pensions manager, at the Strand recently. business contacts.” followed, speaking about the for its Pegasus application, Veena Mahbubani, private The JCC were delighted to important role pensions play in beating off competition from banker, Cadogan, organised the get involved and organised financial planning. Guests then Citigroup, Lloyds TSB, event in conjunction with the the guest list, made up of JCC mingled over drinks and canapes Standard Charter and more. Junior Chamber of Commerce members and prospective in the presentation rooms. Mark Jankovich, senior (JCC), of which she has been a members.“Coutts and the “I was really happy with how investment partner, who member for the past five years. JCC are alike in that both the evening went. I got to know designed the system, and “I got in touch with the JCC organisations thrive on a couple of lawyers, as did Dan, about holding an event here introductions through word and I’m starting to get some Mark Cooper, Coutts Group because I thought it would be of mouth. So organising this business through from some of IT,who completed all the IT a good way to introduce some evening was mutually beneficial the attendees now.That to me programming on it, picked up young, up and coming, for us,” she admitted. is a success!” the award on Coutts’ behalf.

7 News Zurich party to celebrate merger EARLY 500 Coutts Bank von Ernst (CBvE) Speaking about the legal merger Keith calls ‘a Over the next year, Keith says integration will staff celebrated the 1st October legal major milestone for the business’, he added: continue internally and externally. “Internally we Nmerger of Coutts Bank Switzerland and “On the same day as the legal merger, the largest will be bedding down the business, refining Bank von Ernst with an ‘International’ theme party. project milestone, IT migration, was also systems, training new staff in operations, getting Held at the Toni Molkerei club in Zurich, food on office hours back to normal, and working towards the night included Mediterranean Antipasti, Asian WHAT THE MERGER MEANS co-locating in 2005. specialities and American barbeque. Drinks “Externally we will continue to focus on our included a CBvE cocktail served in Coutts’ ■ CBvE is the second largest foreign- clients, ensuring we stay ahead of our competitors corporate colour,and entertainment was from the owned private bank in Switzerland by introducing them to our enlarged new service Tresor band, a live band made up of staff who ■ MANAGES CHF 40 billion assets offering.” worked on the integration project, followed by ■ HAS 40,000 clients Hanspeter Brunner,chief executive, Coutts Bank karaoke and later a DJ and disco. ■ EMPLOYS over 1,000 staff in 15 offices von Ernst, has been delighted with the integration “It was a night to remember for our worldwide. progress so far. He commented: “The acquisition staff who have worked so hard during this period and integration of the Bank von Ernst was an of intense change,” commented Keith Harrison, successfully completed. It all ran very smoothly important strategic step for our international integration programme director, CBvE. “In and ran eight or nine hours ahead of schedule, business. Combining the strengths of both November, our Geneva staff also had their own thanks to the superb team who planned businesses has created a company that is now a party and let their hair down.” everything meticulously.” leading player in the Swiss private banking market.” WorkOut events prove to be a big hit in Hong Kong

ESS TALKING, more doing. “Our views and comments have That’s how Coutts Asia been taken seriously. Decisions have L staff summarise what’s been been made and implemented within happening in the Hong Kong a very short space of time and and Singapore offices over the past we really appreciate the changes. few months. For example, many of us face the It all started with a series of same challenges in our day to day events (run on ‘WorkOut’ work, but we haven’t been very principles) to gain staff views on good at sharing solutions. Now, we where and how the business could have a special intranet site called ■ SHARED SOLUTIONS: See Mei Leng appreciates the changes. improve. Sally Brider, HR consultant, ‘Guess what I learnt today’ where identified key areas of staff concern from the YourFeedback 2003 survey solutions have already been and facilitated the workshops, which Staff can now see that it is worth implemented by the Credit brainstormed challenges around ‘ department – “to the absolute how to streamline processes/ giving feedback because it is being delight of staff,” commented Sally. activities, remove unnecessary listened to and, more importantly, The solutions have cut down on practices and paperwork and the number of credit related improve communication and acted upon. See Mei Leng documents that need to be co-operation. ’ completed, improved the content Sally put a range of we can post messages and share product range and services.” and format of the credit application recommendations to the Asia best practice.” Sally recently facilitated Coutts and eradicated instances where management committee and won Other ‘quick win’ solutions are Asia’s first full ‘WorkOut’ event information was being duplicated. agreement to implement several ongoing, around improving internal dedicated to the credit process, Sally said:“This frees up time for staff ‘quick wins’ and a range of longer processes and procedures. In the which staff had said was something to focus on proactive activity with term solutions. longer term, there are ten solutions they would like to improve. The clients and ultimately improve the See Mei Leng, private banking which relate to the YourFeedback challenge was to improve ‘bottom line’.” officer in Singapore, who attended survey category ‘image and com- operational efficiency in the credit two of the initial workshops said: petitive position’, where Asia felt it had process. The team presented nine ■ TWO more ‘WorkOut’ “This was the first time we have some work to do. Sally said: “These recommendations for changes/ events in the pipeline will had events like this and they have solutions are focused around strategy improvements.All nine recommend- focus on how Coutts Asia been fantastic. and better leverage of the RBS name, ations were agreed and several communicates as a business.

8 News news in Specialist Advice brief 3 ■ TV STAR Phil Spencer blitz generates and a number of Coutts staff enjoyed a competitive golf day together in October, which developed the new property partnership between the bank £2.3 million and Garrington Home Finders, Phil’s home-finding company EARLY 1,000 referrals According to David: “Bringing for affluent people (see August were made to the Specialist this process under the spotlight Coutts News). NAdvice team during their will also help strengthen the Since then, Coutts has three month sales campaign perception that we are a support referred more than £20m recently – more than the total service for private bankers (PBs) of potential business to number of referrals for the whole of and it is a mutually beneficial Garrington, which translates last year. relationship where resulting income The Success to Fly For campaign, is reflected back against them”. into generous commission for which ran between 1 May and The campaign was split into; the private bankers making 31 July, generated an estimated PBs with the most referrals, ■ WINNER: Gerald Bailey, who auctioned his the introductions. champagne for charity, with David King (right). £2.3 million of annual income – announced in August,and PBs and Phil is also presenting to the based on subsequent income specialists whose referrals and Newcastle-based private banker, Entrepreneurs and Sports & generation which was monitored meetings generated the most David Simpson, went along and Entertainment client groups until the end of September. income, announced at the end of commented: “It was a culinary shortly, and guest speaking at “The main objective of the September. experience! I’ve never had snail David Gregory’s Forum 440. campaign was to drive income and In October, the top twelve top porridge before and would never Check out Phil Spencer maintain the momentum provided performing employees involved in have tried it if it wasn’t put in front of in the December edition of by the Formula 1 Fast Start campaign the campaign were treated to lunch us, but it was actually quite nice!” last year,” explained David King, who at The Fat Duck, Heston Other speciality dishes on offer Your Magazine (page 37) ran the campaign, and who analyses Blummenthal’s exclusive restaurant included sardine-on-toast sorbet and where he gives advice on How referrals for Specialist Advice on an which was recently awarded its third smoked bacon and egg ice cream. to get the house you want… ongoing basis. Michelin star – one of only three He added: “I think it’s important The campaign also helped to raise restaurants in the UK. This was and interesting to meet people from ■ IT’S ALL relocation, the profile of Specialist Advice, hosted by Coutts UK chief different parts of the business, so I relocation, relocation with formerly known as Tax, Trust & executive, Sarah Deaves, head of was delighted to get the chance to the London centralisation Pensions but which now includes the specialist advice, Kate Turner and come down to London, meet more programme under new specialist Investment Sales and deputy head of UK private banking, colleagues and sit and talk with head of client operations, Structured Lending teams. John Williams. Sarah Deaves for a while.” Martin Thurnham. London-based new business officers centralised Offshore changes praised on the Strand’s third floor in September. N just 12 months, Coutts clients to new private bankers – were working as one. Now, work Credit operations officers Offshore has implemented with minimal client attrition continues to be carried out in and managers also moved to Iradical changes to its rates. A great tribute to their Cayman, while the information is the Strand and Crosby Court business. hard work.” Other achievements logged in Switzerland. in September – as a A strategic review in 2003 include a new trust & fiduciary In 2005, the programme team temporary solution before underlined the need for a less services (TFS) system for will continue to build on moving to Bush Lane when complex business structure, Cayman and the migration of achievements, and plans include IT work is complete. clearer business direction and the branch’s credit, deposit and merging offshore European trust more efficient systems and investment book to Coutts Bank & fiduciary administration Banking officers have processes. By 2004, Coutts Switzerland. functions and consolidating in co-located to Fleet Street, Offshore had reduced its Successfully transferring Jersey; and transforming the Isle although one officer has been branches from six to three – Cayman’s back office of Man into primarily a relation- left in each client group. closing Bermuda, Bahamas and administration to Switzerland ship management centre. Professional investment Guernsey, and keeping Cayman, was another huge migration Chris concluded:“We have a officers are now co-located Isle of Man and Jersey. project, completed on a client- few months of change ahead of with their colleagues in the Chris Burton, chief executive by-client basis. In the past, us but, after that, our business Strand, whilst the investment officer, Coutts Offshore, said: Cayman had its own IT system will be more efficient, helping us officers for Crosby Court and “Everyone pulled together to and was a stand alone unit.This to maximise future growth in Cadogan Place remain at professionally manage the created problems when the rest relationship management and transition and re-allocation of of the International businesses the TFS business.” their respective offices.

9 Terror in the e

■ CAYMAN managing director, Andrew Galloway, tells Coutts News what it was like to be in the eye of the storm…

IVING through a category five ‘ hurricane is a terrifying L experience. It was a shock to the system. Hurricanes are part of life here but a major hurricane had not struck in 16 years. I have three young kids and we live in a house just 100 yards from the ocean. On Saturday morning, we were all religiously checking the forecasts and in the evening decided to vacate our house for a private shelter – a local church and adjoining gym – along with 50 others. ■ BATTERED: Trees uprooted around Coutts’ Cayman office. By the following morning, pieces of the gym roof were coming off, rain Water had got into the electronics of try to make contact with our staff. was running down the walls and water a car parked underneath the church. People didn’t recognize anything. The was pouring in underneath the door. Eventually, it was put out. environment was devastated. The eaves of the building were being Inside the church, we had to sit low Bit by bit, I was able to gather torn off the roof and they were to the ground because the windows information.We had a cascade system bouncing around outside. When had no shutters. One person had a in place to ensure all our staff were concerns arose about the roof’s mobile phone with Internet coverage. okay but phone lines were down most ■ SAFE: Andrew Galloway. actual strength, we decided to move We were able to read when the of the time. And it took four days to to the church, which was safer. hurricane was 40 miles away, then 30 ensure that everyone was still alive. no roof over the main bedroom and As we opened the doors, my wife miles away… at 25 miles away, the Meanwhile, our building was bathroom, and one verandah door was pulled forward along with my phone cut out. We sat looking out at battered. All people wanted after the and its retaining wall completely three children. Four feet of water the bending trees and drowning island hurricane was a bit of normality. But collapsed. rushed in and my youngest would as the storm attempted to burst the island didn’t look like the same But at least we got out and were all have been washed away if someone through the stain-glass windows. one we had been living on.And there safe. There were people who had hadn’t picked him up right then! By Monday morning,I was able to get was no electricity or offices to go to. stayed in their houses, waiting as it When we reached the church, out and attempt to find out what was My house was only in the mid range filled with water, until the roof blew someone was shouting ‘Fire!’. left of our house and our business, and of damage, with a flattened garden, off. ’ Ozwald as new ZWALD BOATENG put a new slant on his Oreputation for ‘bespoke tailoring’ last month with the launch of the new Coutts World Card. Boateng, the 34-year-old self- styled modernist, whose clothes have been used to dress British ■ COLOUR IT PURPLE! 440 Strand in a new hue with (inset) card designer Ozwald Boateng. agent James Bond among others,

10 ye of the hurricane

HEN Sarah Owen-Jones, OTHER ACTION head of enterprise risk, W realised how serious the ■ GROUP HR organised Cayman situation was, she knew counsellors for Coutts’ Cayman Coutts was going to need a lot of help staff arriving in Miami. from Group. The RBS Incident ■ GROUP SECURITY worked Co-ordination Group (ICG) convened tirelessly with Group Purchasing late in the evening of Monday to secure the building and 12 September, and their first decision organise for Coutts’ wet was to get someone on the island. documents to be recovered. “We didn’t know how to get onto ■ GROUP PROPERTY organised the island, but we needed to find out whether our staff were okay,” rented office space after the remembers Sarah. A Group building was battered, and set representative made his way to the repair operation in motion. Cayman via Jamaica and finally ■ GROUP PURCHASING worked made contact with Andrew Galloway on UK and US time, ensuring all the purchases and transactions via text message. “That opened ■ SUPPORT TEAM: Group help came from Alistair Fenmore, Gordon Hemsworth, Richard Hemsley our lines of communication,” went off without a hitch. with Coutts’ Gordon Pell, Chris Burton, Richard Raymond, Sarah Owen-Jones, and Nick Pollard. said Sarah. Next, RBS chartered an evacuation Sarah was also getting in touch with The evacuation flight out of Cayman flight for Cayman staff on the Friday. the Miami-based CBvE (Coutts Bank was planned for 1pm on Friday. Sarah’s Fighting back “On Thursday, we decided that we von Ernst) staff, as well as former team were still trying to contact more ■ Continued from Page 1 needed someone senior to travel on Coutts staff at Banco Santander, and Cayman staff to inform them of the the RBS-chartered evacuation flight asking them for help. evacuation flight right up to the take- which would bring generators and into Cayman, and agreed on Nick “There was no water supply or off time. supplies onto the island, and fly Pollard, director of HR for Wealth sanitation on the island, and the Forty-nine staff and family members Coutts’ staff and their families Management division,” confirms UN had published a list of supplies made the flight that day and were to Miami. Sarah. they needed in Cayman. We had greeted in Miami with goodie bags “I’m so grateful for all the help Nick had one hour to get to decided to fill the RBS flight, but we from the CBvE staff. Cash was also we had getting our Cayman business Heathrow to make a flight to the US. needed help getting supplies made available by Banco Santander, in sorted out. But the Cayman staff Once there, he was given details of together,” said Sarah. The Miami case ATM cards didn’t work or were deserve my biggest thanks.They the evacuation flight going to Cayman. staff hired large trucks and bulk- lost in the storm along with other were incredible throughout this “Everything was happening really bought food, water, sanitary and belongings of the Cayman staff. From crisis, ensuring business continuity fast and changing every few hours,” medical supplies, generators, tarpaulin there, staff were taken to stay with throughout an immensely traumatic said Sarah. “We had conference calls and more, which they then drove relatives and friends, or were period for the team personally,” around the clock.” to the plane. relocated to other offices. concluded Chris. ’s purple patch card launched was commissioned to design news, The Guardian, Telegraph and Coutts World, the card replacing more national press. World Signia, which first hit the Product marketing managers, market in 1994. Alison Langton and Jeanette The launch was further hyped Harwood, who developed the when Coutts lit 440 Strand in Coutts World Card, commented: purple neon lights in November, “The card is cutting edge and announcing that purple (Coutts offers a variety of industry-leading World colour) was the new black. benefits including top class Air ■ WE’VE GOT IT: Jeanette Harwood, Product Marketing, and Katherine Lodge, Brand Marketing, This was covered by BBC London Miles rates and car-hire discounts.” helped develop the Coutts World Card.

11 Have you noticed..? Nothing wrong with gossip – in the right place

Ooooooh, have you continues.This is especially flustered faces and conversations heard?” whispered a true if you’re a new recruit and that end abruptly. Or veer off at a “colleague after the your team is dishing the details. wild tangent. Christmas party recently. All in the name of company ■ ‘Network’ with the boys – Men Everybody has had this communication, of course. like a gossip as much as the next whispered to them at some The Industrial Society’s woman. Gossiping males can be point. It’s called ‘the skeet’ in research took a different angle, found emailing, ‘networking’ or the Isle of Man,‘the craic’ in lamenting the old ‘tea trolley’ having a ‘de-brief’. Ireland,‘the story’ or ‘the low- days where social chit-chat was an But are these research reports down’ or any number of things institution.‘Gossip is the cement taking it a step too far when in England. But the meaning By Barbara Walshe that holds organisations together!’ they insist that gossiping leads and appeal is universal. Everyone EDITOR it cries. But there’s no need to to a happier and, hence, more wants to know the gossip. that office gossip is healthy! lament the trolley, when you can: productive workforce? I put this And where better to find some, In October,Victoria University in ■ Start smoking – Smoking to a girlfriend and she said she than in the office. New Zealand published a report rooms used to be hot gossip was certainly happier with a good Oh you might have been saying:‘Gossiping about the properties. Nowaday, it’s gossiping session. But more around the block, seen it all etc, common enemy helps build acceptable to shiver outside the productive? Well, not exactly. but when it comes to the latest group morale’. Unless you’re office building, and ‘chat’ while It’s social and fun to have bit of office romance, or who had 10- the enemy, of course. you finish your cigarette. healthy gossiping – but when it too-many at the Christmas party, It’s ‘teambuilding’ and ‘keeps ■ Go to the bathroom – You know comes to actually getting some it’s hard not to cock an ear… people informed within the you’re interrupting a good gossip work done, admit it, a good gossip And why not? Research states organisation’, the report if, when you enter, there are is the first thing to go!

ETWORKING, flexible working and mentoring Nopportunities – these were Breakfast kick-starts some of the hot topics at the Coutts UK diversity breakfast meeting held at the Strand in October. Over 60 staff attended the diversity programme meeting, which was hosted by Coutts UK chief executive Sarah Deaves and five other senior women FEMALE HIGH-FLIERS talk about subjects that are from around the bank; Kate Turner, important to me.” head of specialist advice, Tracey OMEN are emerging extremely encouraging.” Amanda Jones, private banking Browne, senior private banker, Julie Was tomorrow’s ‘high After London, Surrey is officer,Business Management, agreed Hurcomb, head of corporate net worth individuals’ home to the largest number but would have liked more time to marketing, Jo Grant, business according to recent research of female ‘high fliers’.These network with other attendees. She manager, and Stephanie Maley, commissioned by Coutts. are women with income that said: “Without name badges, it was There are over 300,000 exceeds £75,000 and a home HR adviser. difficult to get to know the rest of future high net worth women that is valued at over £250,000. Sarah said: “In line with Unlocking in the UK, with the majority The research also states that the attendees there. However, I still Excellence, we’re developing our being company owners and the average age of these met a few staff from the regions who approach to diversity to ensure that directors, and only a few women is 45 and a high I speak to regularly and can now put our staff are getting the best out of having attained their wealth proportion have young families. a face to the voice!” the bank, and hence the bank is status through inheritance Coutts’ offices are certainly Jenny Clarke, manager, Account getting the best out of its people.” or marriage. taking advantage of these Management, along with many more Attendees then mingled with each Sarah Deaves, Coutts changing times, with Cardiff attendees, enjoyed the meeting so other while enjoying a hot and cold UK chief executive, experiencing a 65 per cent much that she would have liked to buffet breakfast, and watched commented:“With a quarter growth in female clients by have longer to discuss the range of Coutts’ diversity video. Later, they of new businesses now being Q2 2004,Tunbridge Wells by topics. “I think we could have gone started by women and an 35 per cent in the last broke into discussion groups where into more depth if we had had more increasing number moving 18 months, and Liverpool they talked about each topic for 15 into senior management now having a 30 per cent time. But it was reassuring to see the minutes. These ranged from Flexible positions, these results are female client base. feedback and actions, which came Working – which focused on job- out of the breakfast meeting, on the sharing, part-time or compressed Unlocking Excellence intranet site hours, to Mentoring and career activity and enabled us to discuss great feedback from staff.They were shortly after. I’ll be able to use that progression, to Maternity and some important issues with a broad very enthusiastic about what they for future reference.” paternity issues. range of staff.” liked and honest about what they Kate Turner, who hosted the Jo Grant, who organised the would like to see more of in future.” ■ THE ‘Where there’s a will, there’s Flexible Working discussions along meeting and hosted the Mentoring Jackie Blows, tax adviser, Specialist a way’ video is available from with Sarah Deaves, commented: discussions with Stephanie Maley, Advice, enjoyed the session. She said: Internal Communications. Email “This breakfast meeting was an ideal was delighted with staff feedback. “I found it a useful forum to not only the Internal Comms mailbox if way to kick-start our diversity She commented: “We got some meet some new people but also to you are interested in watching it.

12 Focus Top team news in take to brief 4 ■ THE INTERNATIONAL the track client group has been capitalising on their relationship with British NDREW GODDEN took Chambers of Commerce his top performing team (BCC) abroad this autumn. Aout for a well-deserved In September, Coutts PBs break in October. But not to covering Spain, Lynn Baker relax – instead they battled it and Helen Butterfield, invited out on the go-karting circuit. clients to Spain’s BCC annual Andrew, senior manager, golf day in Madrid. In leads a team of 13 in the November, James Fleming, Entrepreneurs client group, International client group which is currently topping the head, and five of the Europe UK Private Banking league and Expatriate team and table.Asked about the secret their clients, attended a of their success,Andrew cites gala dinner in Milan, teamwork. celebrating the centenary “I believe if you get people ■ FAST OPERATORS: of the BCC in Italy, with together, doing something away Above, standing left to HRH Prince Andrew from the office, they will come right are: Kiara Mullaney, attending as guest speaker. back to the office and be more Mark Bartin, Duncan willing to do things together,” Ross,Warren Thompson, ■ ENTREPRENEUR private Andrew commented. Alan Ditton, Joseph Tuson, bankers, Sean Knights and He continued:“The go-karting Victoria Marchant, Cheryl Brian Robinson, co-hosted day was also a good way to Hatfield, Mark Priestley, a dinner for clients and integrate six new members Sheena Patel,Alistair potential clients at the House of staff that recently joined our Hewitt, and Mike Packham. of Lords earlier this month. team.Already they’ve made Sitting left to right are: Fifteen clients invited a huge impact – and have Tony Gibbens, Carlo Laurenco, another potential client rejuvenated our whole team!” and Matthew Brittain. to join them at the event, which started at 6.30pm with pre-dinner drinks. A tour of the House of Lords, given by Lord David Evans of Watford, US desk hit 130mph followed before everyone sat down for dinner.

■ SARAH DEAVES hosted in Jaguar prize day a women’s lunch with private banking officer, Mandy Pinfield- HE US desk experienced Wells, in Bournemouth last some Formula 1 style action month. T recently – their prize for “A lot of the client winning joint first place in the F1 entertaining being organised investment and credit sales campaign here was male-focused and, earlier this year. with so many women now The ten International client group becoming successful, we felt staff travelled to Bedford in mid ■ FAST LADY: we should do something,” October to race jaguar cars, Maureen Evans commented Mandy. experience off-road driving, compete needed her race Five clients and two helmet at 130mph. against each other on the go-karting potential clients attended circuit and much more at the the lunch where Sarah asked Palmersports aerodrome. how Coutts could help them Maureen Evans, secretary, says 10 laps at 130 mph and it was my life so willingly in their hands network.“It was interesting there were lots of laughs but admits tough going! in the first place!” Maureen admits. to see that women don’t feel she had some heart-stopping “The gears were sequential, Tim Neale, private banker, had the need to network in the moments. “I have huge admiration not like normal cars, plus it was a no such qualms. Out of the 80 same way as men,” observed for the Jenson Buttons and Michael work of art pulling yourself in and people at the track that day, he was Mandy.“Instead of a day Schumachers of the racing world, out of the cars! And although there awarded a trophy for the fastest lap. on the golf course, they said driving an average of 60 laps at 220 were instructors beside you inside “I think it was more luck than an informal dinner was more mph every second week. We did the cars, I did wonder why I’d put judgement!” Tim laughed. their sort of event.”

13 News ■ RECENTLY crowned a Times Top 100 graduate employer, students have been flocking to the RBS group and Coutts to be considered for a place on their graduate schemes. Last month The Independent Well, just how reported on Coutts’ graduate programme producing top class private bankers of the future. But how have Coutts graduates found the scheme? Coutts News spoke to a recent recruit, a graduate mid-way through the scheme and a PB now coping being a Coutts with sales targets of her own.

KATHARINE KENNEDY private banker, I might as well PB, Cadogan WHAT DO THEY WANT? become one in the most renowned place. I had an image of a gentleman’s KATHARINE, 24, joined the scheme ONE of the first things placements were too long/ club before I spoke to Coutts but it after completing a history degree at Helen Croucher did short, others needed to be was a relief when I discovered how UCL. But not before she discovered when she was first more structured, and some modern it was. There’s also a lot financial journalism wasn’t for her. appointed graduate scheme additional placements were more regulation and compliance “I was writing about Student Life co-ordinator in February also been introduced. involved in private banking than I had for the FT, celebrity divorces for The was talk to graduates who “Some graduates felt they imagined at first. But it has definitely Evening Standard, and even did a stint had gone/are going through weren’t challenged enough, lived up to expectations so far! as Jeremy Paxman’s runner at the the scheme, placement others wanted more contact “I met a lot of people and made BBC! But I was more interested in departments and managers with client groups, private contacts for the future during my the financial side of journalism. taking on the graduates, to bankers and clients.We’ve placements around the bank. I also I went along to a graduate fair and find out what they wanted. adapted the scheme this learnt a lot about client service and talked to the people at Coutts. I was “We discovered that some year to include this.” banking queries in Telephony. really impressed and decided on Investments and Specialist Advice a radical change of career! and older, more experienced staff. it. And I suppose it’s the journalist were also challenging and well- “Back then, you spent a year “I don’t have business introducers inside me, but I’m really curious about organised placements. moving around different depart- and get most of my referrals from people and their stories.” “Going to meetings and working ments of the bank before interacting my existing clients. I try to put some alongside private bankers is my with private bankers, and it was two kind of structure on my income ADAM ROSS favourite part now. The majority of years before you finally started generation so that it’s not just left to Trainee PB, Professionals clients in professionals are very dealing with clients of your own.You chance. One month can be radically interesting, intelligent people. The absorbed lots of what others do but different from the next, so that’s ADAM, 24, is one year into the PBs get asked a lot of questions that weren’t expected to do much. quite challenging! graduate scheme and qualifies as a make me think ‘How would I answer “So it was actually quite a big jump “At Cadogan, we don’t always have PB next June. that?’, so I’m learning from them. Plus when I eventually went from being a the opportunities to make some of the After completing a history degree I’m interested in finance and get a graduate to being a PB. You’re hit big sales and I would like to move back at Bristol university, Adam worked buzz from selling things, which helps. with clients and slightly scary targets. to Entrepreneurs at some stage for that for a year and a half as an equity “I’ve also been lucky with my “Many of the 2001 graduates buzz.I love when you ask entrepreneurs trader before deciding he preferred mentor, Keith Martin, Professionals started out in client groups before one question about their business, talking to people over staring at a client group head.We meet up every moving to Cadogan. At Cadogan, they’ll launch into a full description of screen all day. six weeks and he takes a lot of time there’s a good mix of young people “I thought, if I’m going to become a out to talk things through with me. It’s Kung-fu would OUTTS has its very the Nine Section Chain Whip, own international sports which Spencer describes as: C hero in Spencer Attridge, “A bit like the ball and chain based at the ISA & PEP office in action in Kill Bill.” Mansell Street. He went over to the Spencer, 30, recently returned competition with 11 other from the British martial arts British team mates and single- championships in September and handedly won a record; two gold Open-European championships medals, two silvers, one bronze, in October where he competed, as well as successfully defending along with 500 competitors from his two titles. Russia,America, and Spain in Although he’s already categories; Straight Sword and renowned in martial arts circles, Buddha’s Whip, Tai-Ji Two Man Spencer only took up Kung Fu ■ KUNG-FU RULES: Spencer Attridge admits that it dominates his sporting life. and Flexible Weapon category – lessons five years ago.

14 People news in scary is it brief 5 ■ BANKING OPERATIONS embraced National Customer Service Week in October. Matt Brown, manager, graduate? Payment Services commented:“We wanted to create an even stronger commitment to client service HOW IT WORKS excellence, with some fun along the way.” BETWEEN 10 and 12 graduates are recruited every They held breakfast huddles year. Most of these are trainee private bankers, with at the Strand, Eastgate House a small number going to tax and investments. and Wyvil Road, talking about PB graduates spend the first three months of the unsurpassed service and two-year programme in Client Telephony before coming up with more ways to joining their client groups where they begin learning enhance the client the skills and knowledge needed to become a PB. experience.They also held Each graduate is allocated a ‘mentor’ and ‘buddy’ – some intra-team competitions the mentor is someone senior in the bank who they and quizzes on client service- meet up with regularly, and discuss any issues they related issues.“That generated have. Buddies are people within their client group some healthy rivalry!” who give them regular help and advice. admitted Matt. At the end of the week, nice to be able to speak to someone view to specialising in tax afterwards. the teams celebrated their who is senior if you have frustrations.” Then I discovered a direct route into successes and awarded tax at Coutts. ■ THREE DEGREES: Adam Ross and Kari prizes to the winning quiz KARI MELLON “The graduate recruitment process Mellon with (inset) Katharine Kennedy. team; Investigations at Tax Graduate, is a long one. I completed a general Eastgate House. Specialist Advice application on the RBS Internet. I was impression that graduates were then contacted to complete an online valued at Coutts, that there would be ■ KARI, 22, completed a business test which examined my profile, the interest and support available to EXCO surgeries took economics degree at Nottingham personality, and ability with numbers. succeed. We were treated like the place around Coutts UK this Trent university, then a business After that, 20 people were invited for future of the bank. autumn following feedback analysis and finance post graduate interviews, with 12 people invited “Tax is something that really from the Leadership Pulse course at Leicester university before back to the assessment centre. interests me. You have the survey. being one of two graduates taken on “Before the assessment centre, investigation and number crunching “It was quite an eye-opener Coutts’ tax scheme. She will be fully Coutts held an open day. Sarah and then you’ve to come up with a to see the consistent message qualified in four years. Deaves came to speak to us. She solution for clients. I’m just learning that senior management “I was applying to graduate stayed a good hour and talked to the basics at the moment but I really doesn’t make enough effort to schemes at accountancy firms with a everyone. It really gave the enjoy coming to work every day!” talk to staff and solicit their views,” commented Malcolm Porter, head of management information.“We wanted to do something about it.” According to feedback, lure him to Shanghai staff from Cadogan and the Now, he’s addicted. He speaks would be ideal! The world championships, where Regions particularly enjoyed Chinese, taking it up after To maintain this level of I won silver, took place in Brazil the events.And now planning discovering that his martial arts training and competition, the in 2003 and that was expensive. is underway for more surgeries teacher spoke no English. rest of Spencer’s life has had to The 2006 world championship is to take place in 2005. Spencer goes to lessons four days change.“I am very lucky with in Singapore, so I’m already a week along with the 70 other my manager at work, Rob Ray. saving for my ticket.” ■ COUTTS & CO celebrated pupils in his martial arts school, He allows me to work flexible One thing has benefited 20 years of involvement with one of which is his girlfriend. hours so that I can train and go hugely from Spencer’s martial the RYA South Coast Blind And for the other three days, he to competitions.” arts – Coutts’ systems. Spencer Week last month with a lunch trains alone.“I get up at 6.30am Money is also an issue as was the mastermind behind the at the Strand attended by and go down to the car park sponsorship of martial arts in the programmes that brought all Coutts’ sailing club members, outside my flat and train there.” UK is practically non-existent. ISA & PEP dealings in-house skippers, and crew, and 16 He would also like to live in “A lot of my money goes into last year, saving Coutts visually impaired sailors who Shanghai, and says that if Coutts my lessons and saving for trips hundreds of thousands of have joined Coutts’ boats opened an office out there – it abroad for the competitions. pounds in third party fees. over the years.

15 Christmas Party A brilliant night of Bollywood OLLYWOOD was the theme of Coutts’ Christmas party this year. B Held earlier this month, nearly 1,500 staff from across Coutts Group attended the event. Greeted with a corporate-colour champagne cocktail on arrival, attendees were then ushered into the main dome, which was filled with the aroma of Indian food and flashing Bollywood decorations. Lots of entertainment was organised for staff in the form of magicians, caricaturists and a fortuneteller – with people queuing for hours to have their futures foretold with tarot cards. A large-scale Scalextric also provided staff with some exciting diversion before the live band started and everyone hit the dance floor. Following this, a DJ spun the records well into the evening and when midnight struck, it ■ PARTY PEOPLE: was time to go home. However, not everyone Top left to right: Karen Fannon, Sue McMillan,Tina Patterson, all mortgage currency clerks, with Ian Street, New Business Development, Karen Bevis, mortgage manager, heeded this and there were some sore heads Michelle Palani, fraud officer in Card Services, and bottom, left to right: Jenny Gregory, Christine Jeremiah, Rosemary Clarke, around Coutts the following morning! Linzi Sexton, Lisa Reynolds, Natalie Buckman, all in the Account Management Centre (AMC). Prince’s Trust boosted by £100,000 arts programme OUTTS leapt at the Trust to help young people who diverse applicants were awarded opportunity to get have experienced difficulties. places after a number of Cmore involved with the Whether their lives have been interviews.They were then Prince’s Trust recently when it hindered by crime, exclusion taken to Harrow for one week sponsored an arts programme from school, growing up in care, of intensive TV training and designed to re-engage London’s or unemployment,‘Live’ can personal development. disadvantaged youth. be a catalyst for another chance At the end of the week, The £100,000 sponsorship to succeed.” participants gave a successful is currently funding three arts The ‘Live’ element is based live TV performance in front of programmes – Film Live, Drama on ‘Sound Live’ courses which an invited audience.As a result, Live and Dance Live – which give The Prince’s Trust have been nearly all of the participants nearly 100 young adults a week running for over eight years. are now applying to attend film of arts training with a focus on They use creative arts to courses, schools, and colleges personal development, inspire young people to have around the UK. confidence building, motivation confidence in skills, other than Paul Richardson, deputy head and employable skills. the academic ones which are of private banking, commented: Rachel Oliver, head of new focused on in school. “We are delighted to have programmes for the Prince’s ‘Film Live’ was held at the end supported this initiative and Trust, commented: of August, and of the 170 young hope the next two ‘Live’ “Coutts’ sponsorship of these people interested in the course, programmes prove as big ■ IN VIEW: Film Live. programmes allows the Prince’s 30 ethnically and culturally a success as this one.”

16 Christmas Party

■ UP FOR THE ACTION: Revving with the racing cars (left) and getting with the rhythm (right) are Neil Goodger, Steve Beale, Mark Hovey, Richard Cargigao and John Benfield.

■ BARE CHEEK: Above left to right: Julie Clark, Brand Communications, Sara Miller, Fleet Street, ■ HIGH SPIRITS: Above left to right: Joanne Wood, Banking, Fleet Street, and Mal Anicale, Alison Kent, Eastgate House, Sinead Huges, Investment Discretionary. Helen Jones, Shefali Rao, and Craig Poe, all of Trust Tax & Estates, Chelmsford.

■ OVER 150 clients were able ■ HELEN Young did her bit for charity recently to enjoy some stress-free Christmas when she organised MacMillan cancer relief’s largest shopping in London this month ever coffee morning thanks to a ‘client family day’ at the Trust Tax and Estates office in Chelmsford. organised at Coutts. In September, Helen, assistant manager,Trust Sarah Deaves, Coutts UK chief section, invited all the staff in her building, which executive, and her family hosted the include the banking branch, NatWest Global, day whereby one parent was free to corporate and some NatWest PBMs, to buy coffee go shopping while the other kicked and cakes in aid of charity. back with a glass of champagne, read “I had wanted to get involved with this charity newspapers and magazines, and for a while,” she explained.“Everyone seems to watched sport on the TVs provided. know someone who has been affected by cancer, To entertain the children,‘Mother and so doing something like this was a nice way to Christmas’ was on hand in her raise funds for a good cause and bring staff within Christmas grotto, helping them the building together.” make hand puppets and Christmas Together with a community cashback award, cards. Face painters, caricaturists, Helen’s coffee morning raised nearly £650 for and magicians were also a hit, as charity. were the board games, six-lane scalextric, and computerised ■ OVER £10,000 has been raised by Bristol’s putting green. Investment Operations staff for the Bristol Babe’s According to event organiser, Jill Big Appeal since it became their preferred charity Chimes, some parents decided not for 2004. Externally, they have organised sponsored to go shopping at all! “They were bike rides, walks (in the UK and Amsterdam), and having such a good time watching marathons, while internally there have been bake- their children play that they decided ■ COMMITTED: Claire Symonds, regional PR manager, ran offs,‘guess the baby’ competitions, and piggy bank to stay around!” laughed Jill. the Bristol half marathon in aid of Bristol Babe’s Big Appeal. collections.

17 People High drama as Mark takes on Mt. Kilimanjaro

■ MARK ELLIOTT took on Africa’s the Director of Sense was there to highest mountain in aid of charity meet us. He had brought along a in October, but was dismayed to number of parents of children suffering discover that his fitness training, from deafblindness.The stories were weight loss, and fundraising for the so touching that everyone was even event was the easy part… more determined to reach the top. The next morning, things did not WAS FIRST introduced to this start well. Our bus broke down on ‘ trek idea by a prospective client. an isolated dirt track. And, while it I He wanted to bring together a was amazing to see local villagers ■ WE MADE IT!: Mark Elliott in the yellow jacket. group of people to climb Mount come to help, it meant we were over Kilimanjaro and raise £100k for the charity Sense International. SENSE INTERNATIONAL hour trek – where, as we climbed, all I had always wanted to conquer a our exposed body parts needed to mountain and when the opportunity ■ THE charity provides help/training to individuals/families be covered to avoid frost bite in the came, luckily, I had just embarked on of children suffering from deafblindness. minus 20 degree conditions. a new health regime. To be in with ■ THE main causes of deafblindness are premature birth, Given the lack of oxygen, the last a reasonable chance of completing birth trauma and rubella during pregnancy, along with a push was extremely tough, but it the trek, I had to lose three stone in host of other genetic conditions which affect children who paid off and we reached the summit weight and get fit. are born deaf and go on to lose their sight. with exhausted elation! Next I was keen to make my On our way back we met the financial contribution. And, thanks to two hours late starting, which put us began suffering from AMS (acute other members of the team, some of help from Jan McEvoy, my secretary, under some pressure to reach the mountain sickness). whom were only just arriving at who co-ordinated a large proportion first camp before nightfall. At that stage, the group were still Gillman’s Point. Another storm of my fund-raising, I got in touch with On the second day, a group of climbing together, but our guide felt began to engulf the summit and the friends and family, and raised over trekkers behind us accidentally set that the pace was too slow to reach decision was taken for everyone to £4,000. I also encouraged a close fire to the scrub. Hundreds of yards the summit. As a result, four of us, descend as quickly as possible. friend (and his dentist!) to accompany of the mountain were alight within accompanied by two guides, pushed Of the 33 who started out, four me on the trip, which raised a further minutes, and flames were being ahead from the main group to reach made the summit, 20 to Gillman’s £3,000 for charity. I’m very grateful fanned by very strong winds. This Gillman’s Point in just over four Point, three needed to be stretchered for everyone’s support. caused quite a panic within the hours, leaving the rest of the group from the mountain, and one was Thirty three of us met at Heathrow group and we decided to press on to some way behind. airlifted to hospital.Thankfully every- in October with a mixture of pride higher ground as quickly as possible. After a brief stop, where we found one has now recovered and we’re and nervous excitement about the However, we climbed too high, too our water had frozen, we pushed on delighted to confirm that the £100k challenge ahead. On arrival in Tanzania, quickly, and a number of individuals to the summit – an additional two- goal has been exceeded!’ Top client cycles his way to £320,000 IN OCTOBER, Coutts celebrated the under water.Then we caught stomach conclusion of top client John Caudwell’s bugs and were nearly wiped out!” charity cycle from the Parthenon in exclaimed John. Greece, with a private party at the Amrit Uppal, private banker, Strand and a £2,300 donation. Birmingham, said of his client:“Coutts Returning to London after cycling and The Caudwell Trust have been looking 2,300 miles over 18 days, and raising at ways they can work together for some nearly £340,000, John Caudwell, co- time and this event was ideal to show founder of The Caudwell Group, the the extent of our client service, while biggest independent mobile phone also making good business contacts for retailer in Europe, thanked Coutts for the future.” The Caudwell Trust is a charity the warm reception and revealed to set up by the Caudwell Group in 2000 staff, sponsors and press that the journey to help sick and terminally ill children. ■ AND WE MADE IT,TOO: Amrit Uppal with John Caudwell of had been tough going. Check out www.caudwelltrust.org for The Caudwell Trust, second from right. “At one stage, we were pedalling more information.

18 People ■ YLVA BAECKSTROM, manager, customised investment group, came to Coutts almost four years Ylva has her own way ago from Morgan Stanley. She joined because she wanted to work with private clients and was looking for a role where she could of making an impact ‘have a big impact on the business’. She has been in banking since graduating seven years ago with a degree in European Business, on the business! majoring in finance. Ylva, who’s Swedish, is based in London and has a holiday home in Sweden. I think a personal touch and the my experience quality of service you give are the two most important things in a client IN this job you must be Ylva Baeckstrom relationship. The biggest satisfaction confident and not afraid to take comes from giving a client advice a risk. My work involves structuring that really works well for them and investment/deposit products and then they refer their friends and you providing client advice and solutions. get new business as a result. Our main products are ‘Customised Deposits’.These basically give clients If I weren’t doing this job I exposure to the markets without would live in the country and having to take the market risk.They have lots of horses. I wanted to can be linked to most major asset be a vet originally, but I couldn't classes such as equities, currencies, because I am allergic to cats. commodities, interest rates or even house prices. Compared with the Swedes, I find English people never say Half of my day is spent what they mean. Well, there are a on the phone and half lot of pleasantries first. In Sweden, you in meetings. I work say ‘Do this’. Here, you say ‘At your quite quickly and earliest convenience, would you mind efficiently, and I delegate terribly doing this?’. But I guess I’ve to the rest of the team… been here so long that I’m used to it. and my boss! I actually go back to Sweden now and find some people rude. A client might ring up and say: ‘I am interested Unlocking Excellence in a product linked to the made investments feel Australian dollar and I want it more involved from a today.’ We do our best to meet business perspective. It is that demand but it depends how great to see everyone complex the instruction is.And, of at Coutts involved in course, compliance, legal and our future. I’ve seen regulatory requirements must be many positive developments signed off. following UE.

People might think my job is What did I think of stressful. It can be very Coutts before I joined? I pressured but one of the most thought it was posh. I still stressful jobs I ever had was in New think it’s posh! York, working as a live-in nanny to three children of 5, 8 and 10. This I’m very sporty. I love all sports, was where I fine-tuned my and do lots of different kinds such organisational skills! as martial arts, tennis, horse riding, boxing, skiing, running, cycling, yoga. I I can honestly say that I haven’t love people and spend a lot of time met with sexism even though socialising. derivatives tends to be a male- dominated profession. Surprise, My personal philosophy is to be sometimes, from clients, but never to happy in life. I am very happy most the extent that I have to prove myself of the time. more than my male colleagues before ■ PUNCHING HER WEIGHT: Ylva Baeckstrom. they will listen to me. Once I have One thing people may not know given them advice and it has worked To be successful in this role you people and organisational skills and about me? I am a black belt in for them, they are very happy. need to be numerate, have strong be good at managing stress. Wu Shu Kwan (Kung Fu).

19 DUBAI

ORLD class is the only way to describe the W Dubai office’s fifth ann- iversary celebration held in October. Staff, clients, contacts, and Dubai’s British ambassador were all treated to champagne, cocktails and canapes at the Burj Al Arab Hotel, the BATH world’s only seven star hotel. Coutts UK chief executive, Sarah HE BATH office Deaves, travelled to Dubai for the showered clients with event, which also marked 15 years champagne and luxury T of business for Coutts in the to celebrate 15 years in the city in mid September. Middle East. More than 150 guests attended She extended her congratulations the drinks and canapes reception to a flourishing Middle Eastern team organised at Combe Grove Manor which, in the first six months of this ■ CELEBRATING IN DUBAI: Back row left to right: Forrest Cunliffe, Ebru Ozsezgin, to toast the office’s success. year alone, saw a 19 per cent boost Nader Shenouda, and Martin Bond. Front row left to right:Tom de Sausmarez, Today Coutts has 1,000 clients in assets under management. David Sargent, Chris Allen, Sandy Shaw, Dalia Ahmed, and Sarah Deaves. across Bath and North Somerset, Three new private bankers have working with Middle East clients to 13. for further expansion of the team Wiltshire and Gloucestershire – also been hired to cope with the Sarah commented: “The Middle in order to meet the increased including a 13 per cent increase business boom, and a further three East is an essential location for demand for Coutts’ wealth last year – compared to zero are due to start in early 2005, bringing Coutts, and our ongoing success in management services.” clients and merely one private banker setting up in 1989. the total number of private bankers the region has created the need Paul Crook, private banker, commented:“We look forward CHELMSFORD to the next 15 years and beyond!” Although Coutts’ physical AST AND PRESENT staff of presence in the city spans just Chelmsford Trust Tax & 15 years, the association with PEstates (TT&E) got together in Bath dates back much further. mid October to celebrate the Famous Bath clients include office’s 50th anniversary. poet Alexander Pope and novelist There were tours of the office and Jane Austen. demonstrations of how Coutts Group Operations works today, LONDON followed by an evening reception for EARLY 200 guests the 120 attendees, who had gathered at the gathered from across the UK and NMandarin Oriental hotel overseas, at the County Hotel to celebrate the Cadogan office’s Chelmsford where the opening of 75th anniversary in October. the office had been celebrated in The event featured two ice 1954 with a dinner dance. carvings – one of which was “The original office was part of the Coutts logo. Clients were excited about the office’s Westminster Bank, but following longevity.“One client even went mergers, takeovers, and department out and bought a 75 year old re-names, it now forms part of antique suit especially for the Coutts Group, with over fifty staff event!” exclaimed Nick Gornall, supporting Coutts and NatWest Cadogan client group head. ■ FUNTIME: Main picture, left to right are: Janine Lewis, brands,” said Dave Garland, head Shefali Rao and Jane Palk. Inset are:Terri Charman and Elaine Osler. of TT&E. ISLE OF MAN

VER 50 Isle of Man clients mph on water.The wheels just rolled up when experienced some James Bond- they touched water, it was very exciting!” Ostyle action in September when said Alison Cubbon, relationship manager. the Coutts office organised an aquada car The Isle of Man team came up with the event. idea for the event to attract local attention Shipped over from London especially and business to the office. And according for the day, clients and a number of Isle of to Andrew Moretta, senior vice president, Man relationship managers were given the it’s worked! chance to drive two aquada cars, a car that He said:“It was sort of a ‘Come and meet runs on land and water, down the slipway the team – and have some fun’ type of at Castletown Harbour and straight into event, and we made some great business ■WATER SPORT: Back from left: Andy Moretta, Chris Broadhead, Paul Warburton, Alison Cubbon, Marion Jones, Keith Reynolds, Carl Darnill, Geoffrey Skillicorn, the sea. contacts and arranged some important Kirstie Egerton, Emma Wright (Jersey). (Aquada staff in blue.) “The cars drive 100 mph on land and 30 meetings on the back of it!”

Produced by Coutts Group Internal Communications, 440 Strand. 20