Royal bank Coutts was caught in a fresh row today after it revealed plans to shift an estimated £2 billion of clients’ funds out of the London stock market into foreign company shares in another blow for the City.
The bank, founded in 1692 and still almost 30% owned by the taxpayer, told clients earlier this week that its “home bias” towards British company shares was an “anachronism” that needed “funadamental change”
