Coutts says the new-look CFO division will open the door for clients to access more services from parent company NatWest and third parties such as Blackrock.
Domestic and international family office and UHNW clients will benefit as a result of the relaunch, Coutts says.
Warren Thompson, head of Family Office & UHNW, will run the operation.
Additional services will now include Blackrock funds, more deposit accounts from third party banks, asset finance advice from Lombard and access to a new HR support service for families called Family Office at Home.
Mr Thompson said the aim of the changes was to build on the Coutts brand.
He said: “When we sat down as a team to discuss the evolution of the UHNW market both here in the UK and overseas, it was apparent that by bringing together the best of the bank and by developing strategic external partnerships we could build on the already-excellent Coutts offering to create something we believe is unrivalled in the industry.”
CFO currently manages around £5bn of assets but is looking to grow that figure through strategic partnerships with external providers.
Coutts clients are already able to access BlackRock funds in a new deal with the major US fund manager and an additional partnership has been signed with Flagstone, a London fintech which runs a cash deposit platform allowing Coutts’ Family Office clients to deposit funds in a ‘curated’ range of term deposit products from third party banks.
Coutts already offers discretionary and advisory investment management services as well as advice on philanthropy, family businesses, succession planning and commercial banking.