Private bank Coutts has rejected fresh criticism that it gave poor advice to its clients on investing in a troubled £6bn (€6.4bn) money-market fund run by AIG, becoming the latest bank to come under fire for allegedly mis-selling the product.

The UK bank was responding to an attack by Sir Keith Mills, the entrepreneur behind Nectar loyalty cards in the UK, who has launched a website to encourage Coutts customers to join forces in a combined action against Coutts.