There have been two consistencies in Coutts & Co’s long history. One is the location of its headquarters, which since 1692 has been on the Strand in London just down the road from Buckingham Palace. The other is that it has been advising the palace’s current resident – and her ancestors and extended family – for just as long, a fact hinted at by its logo of three crowns.

It is perhaps ironic that after a history of more than 300 years which have seen crises, upheavals and changes of ownership, Coutts faces the prospect of quasi-nationalisation by stealth after its parent company Royal Bank of Scotland was rescued last year by the UK Government.