Coutts & Co Reviews

Updated September 12, 2014
Updated September 12, 2014
10 Reviews
2.5
10 Reviews
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Lord David Douglas-Home
3 Ratings

Employee Reviews

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  1.  

    More frown standard, than crown standard....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - PS&M  in  London, England (UK)
    Former Employee - PS&M in London, England (UK)

    I worked at Coutts & Co full-time for more than 3 years

    Pros

    - Good work life balance.
    - If you don't want to rock the boat and you want to keep your head down, you can easily fall off the radar in Coutts.
    - Strong external perception of Coutts

    Cons

    - Growth, productivity and evolution of Coutts is stifled by onerous RBS framework and policies.
    - Countless committees and forums that sound great in theory but big decisions are unchallenged and the goal of product managers, business managers and project managers is to avoid any scrutiny at all costs.
    - Coutts has a very high proportion of 'lifers' - people who have been with RBS a number of years and won't challenge the practice of culture of the firm and await a large redundancy payout some day
    - All major hires in PSM have been from Barclays. If you're not ex-Barclays you're not in the clique.
    - Bonuses slashed harder and deeper than RBS. Management largely uninterested in employee disappointment and feedback.
    - Constant pipeline of new products that are eventually shuttered but not retired fully.
    - Constant reshuffling of business heads and product groups, often reverting to the same structures in place a few years ago
    - International teams in constant battle to fight authority and adopt best practice from UK.

    Advice to ManagementAdvice

    Invest in IT, recruit people with good ideas, look at number of MD's, ED's and Directors when cost cutting. Appreciate the cost of complying with RBS frameworks. Understand how the teams operate at a nuts and bolts level before making decisions. Listen to people instead of simply delivering the message from the top.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Not good.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Singapore (Singapore)
    Former Employee - Anonymous Employee in Singapore (Singapore)

    I worked at Coutts & Co full-time for more than a year

    Pros

    Really liked work colleagues; congenial, good team orientation.

    Cons

    Too much senior management change, leading to shifting projects, everything top priority.

    Advice to ManagementAdvice

    Value the employees. Organisational structure reporting into Zurich and actually being led by London created too many priority projects, putting pressure on local staff. Culture change with onboarding of ex-UBS executives. Went from family firm orientation to cold investment bank, focused purely on targets, no regard for long-term employees who were exited without warning. Horrid. Lost the culture, soul, morale. Lost it.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Anonymous Employee

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Coutts & Co full-time

    Pros

    Reasonable work-life balance, heirarchical structure so can work toward promotion and therefore can remain motivated from that standpoint if junior. Good perception from general public, however this is waning as Coutts' name is permanently in the press these days with unflattering stories.

    Cons

    Terribly bureaucratic. Staff sandwiched between lifers who hate their jobs and waiting to retire, and more recent hires who are only happy because Coutts overpaid for them to come in. Bank run by the risk department, which suceeds in stifling any creativity out of anyone for fear of doing anything wrong.

    Advice to ManagementAdvice

    Increase staff morale, however you have to do it.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Sub-exec management cadre difficulties globally & the RBS shadow hugely limit the business model's present & future.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Risk Management  in  Hong Kong (Hong Kong)
    Former Employee - Risk Management in Hong Kong (Hong Kong)

    I worked at Coutts & Co full-time for more than a year

    Pros

    Decent hours for those looking to have predictable ones. Fair / average salaries in a less aggressive climate. Banking without fierce internal competition. If you are a good performer at middle ranks (associate) you could get access to some decent projects.

    Cons

    Serious gap in progression from AVP to mgmnt. Internal competitive spirit / desire for real change is therefore weak. People work 'with their heads down'. Risk model known as poor in the mkt. Sales and Risk feel outside the market. Inability to change this has ignited serious friction, and politics. Constant replacement recruitment drives give false sense of expansion - they're replacing ppl.

    Advice to ManagementAdvice

    Aggressively importing UBS people in Asia for instance or 'lifers' from Coutts UK in a bolt-on manner as opposed to bringing in entire teams means change continues too slowly and is reliant on personalities not good-process. Anyone joining in a senior position in Asia feels insufficient access to / support from London and sees the political fear. Staff appetite for change has to be addressed and concentrate on good middle rank hires. Asia felt London was an absentee landlord and as such were subject to local 'politicians'.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    Haphazard at times but a good company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Data Management Analyst  in  London, England (UK)
    Former Employee - Data Management Analyst in London, England (UK)

    I worked at Coutts & Co as a contractor for less than a year

    Pros

    Career progression opportunities, diverse range of work and clients, interesting work

    Cons

    Quite a dated company in terms of procedures and offices, part of RBS - could be seen as a good or bad thing

    Advice to ManagementAdvice

    Update systems, protocols and management style

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Extremely poor management. Full of politics. Messed up. Worse company ever. Not recommended

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate - Trades Support  in  Hong Kong (Hong Kong)
    Former Employee - Associate - Trades Support in Hong Kong (Hong Kong)

    I worked at Coutts & Co full-time for more than a year

    Pros

    Looks good on resume
    Pay is ok compare to 2nd tier banks

    Cons

    Full of micro management
    Many seniors not very bright
    Not a very cooperative environment
    Way to survive is avoid or shifting responsibility
    No one takes on ownership of responsibility

    Advice to ManagementAdvice

    Do something that is actually and healthy for the company

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Needs change

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Business Support  in  London, England (UK)
    Former Employee - Business Support in London, England (UK)

    I worked at Coutts & Co

    Pros

    Work life balance, ability to climb carreer ladder (but must never complain or voice your opinions as it differs from colleagues). Reasonably fair in employee review (but don't expect that management will listen).

    Cons

    No creativity, lack of leadership without micro management, slow to change (they don't want to change), poor outdated MS packages, poor IT support, if self opinion is expressed you stand out like a black sheep.

    Advice to ManagementAdvice

    Be quck to review the managers and their leadership skills, get rid of managers who are dragging the team and overall company down. Adopt transparency, break the snobbery hierarchy, create team work, become forward thinkers in a modern society and break free from RBS .

    Doesn't Recommend
    No opinion of CEO
  9. 2 people found this helpful  

    Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Private Banker  in  Manchester, England (UK)
    Former Employee - Private Banker in Manchester, England (UK)

    I worked at Coutts & Co

    Pros

    Strength of brand awareness always helpful when attracting new clients.

    Cons

    Appalling IT, and laborious credit processess. Promotions not always given on merit, rather on political connections with senior management and visibility in the office as oppose to competency on the job.

    Advice to ManagementAdvice

    Need to sort IT issues and credit processess out urgently. Too much time is wasted by employees on the phone to IT helpdesk and chasing credit submissions.

    No opinion of CEO
  10. 1 person found this helpful  

    Disappointing.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Private Banking Assistant  in  London, England (UK)
    Former Employee - Private Banking Assistant in London, England (UK)

    I worked at Coutts & Co

    Pros

    * Good salary and benefits.
    * High quality of training.
    * Very strong brand name.

    Cons

    * Poor development and career progression.
    * "Guilty till proven innocent" approach at appraisals.
    * Too much bias towards Private Bankers at expense of support staff.

    Advice to ManagementAdvice

    Look after all your staff, not just the Private Bankers.

    No opinion of CEO
  11.  

    Working for Coutts

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)

    I have been working at Coutts & Co

    Pros

    Good team spirit, excellent place to build relationships to leverage your career, prestigious name that looks good on your CV, access to the latest developments in PWM with the opportunity to specialise in various areas.

    Cons

    Sometimes there is a lack of cohesiveness between various parts of the Bank, promotion prospects are not always obvious, comparatively low level of compensation.

    Advice to ManagementAdvice

    Promote understanding between various parts of the Bank, ensure that everyone learns to manage client expectations, review compensation (in all areas) in line with other leading PWM firms.

    Recommends
    Approves of CEO

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