Italy's retail bank Intesa SanPaolo is looking at a possible bid for Coutts International, the wealth management arm of Royal Bank of Scotland, the Financial Times reported. Intesa is trying to persuade RBS to sell the whole of Coutts, along with the prized UK business, whose customers include Queen Elizabeth, the newspaper said, citing a source. (on.ft.com/1zfa6ga)Coutts, which is expected to be worth about $1 billion, was put up for sale by RBS in early August.The Italian bank found Coutts' assets the most interesting among the available options, the FT said, citing people close to the bank.The UK-based bank recently hired Goldman Sachs Group Inc to seek buyers for Coutts.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS fell by 0.08% or $-0.16/share to $189.59. In the past year, the shares have traded as low as $151.65 and as high as $192.68. On average, 2799280 shares of GS exchange hands on a given day and today's volume is recorded at 2367908.
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