Royal Bank of Scotland has given a clear indication that it plans to expand its private bank Coutts by hiring a former UBS heavy hitter, who was the Swiss bank's best-paid executive at the height of the market boom in 2007, as chief of its entire wealth franchise.

RBS, 84% owned by the UK Government, has brought in Rory Tapner to oversee its wealth management business, which includes Coutts and Scottish private bank Adam & Co.