RBS Coutts, the international private banking arm of the Royal Bank of Scotland, plans to expand its Middle East operations by significantly increasing its customer reach and total assets under management from the region in the next four years, an RBS Coutts executive told Gulf News in an interview.

"Currently we have about $4 billion [worth of] assets under management from the region. In the next four years we want to more than double that amount," James Fleming, RBS Coutts Global Head of Middle East, was quoted as saying.

RBS, which recently sold its UAE retail banking business to Abu Dhabi Commercial Bank, is refocusing its Middle East business around its core operations such as investment banking, wholesale banking and wealth management.

"In the Middle East we see huge opportunities for expansion of our wealth management business underpinned by the strong economies and the natural resources wealth. Thus we want to significantly invest in our people resources and market reach in the region," Fleming said.

The company has about 16 private bankers dedicated to the region and based in Dubai, Abu Dhabi, Doha, London and Geneva. In the next four years they want to take that number to about 60.

"Our key resource is talent. We believe there is an urgent need to invest in local and regional human [resources]. Going forward we will be recruiting personnel, both fresh graduates and experienced bankers from the region," Fleming said.