Union Bancaire Privee is acquiring the international business of British wealth manager Coutts. The sale of Coutts International from Royal Bank of Scotland also marks another departure by a foreign bank from the Swiss wealth management industry after a string of investigations into tax avoidance. Royal Bank of Scotland will retain Coutt’s UK arm, which boasts Britain’s royal family amoung its customers. The purchase will boost UBP’s client base in Asia, which is a focus for wealth managers as the market is the fastest production line for millionaires and billionaires. Zuercher Kantonalbank analyst Andreas Brun said, “The cherry on the cake of the whole deal is certainly the Asia business.” The total value of the deal will depend on the level of assets under management at the completion, expected in the first half of next year.