LONDON (Reuters) - Royal Bank of Scotland's private bank Coutts has set aside 110 million pounds to compensate customers for unsuitable investment advice, a person familiar with the matter told Reuters on Friday.
RBS said earlier in August that Coutts had decided to examine the suitability of investment advice to its clients following a review into Britain's wealth management industry by the country's financial regulator.
Coutts is in the process of contacting clients and will offer compensation in appropriate cases, the bank said.
(Reporting by Matt Scuffham; Editing by Laura Noonan)