last updated 17/03/22

In April 2021, we first announced our intention to transfer our banking and lending business to our sister company Coutts & Co. and committed to keeping you updated about the proposed transfer.

We are using a Banking Business Transfer Scheme, under Part VII of the Financial Services and Markets Act 2000.

This hub details the process, provides important documents about the transfer, and how you can object if you think you will be adversely impacted by the transfer. It also has answers to some questions you may have.

It will be updated regularly as we move through the legal process.

Latest update 17/03/2022:

We have been granted an order by the Court of Session in Edinburgh to notify our clients about the proposed transfer of Adam to Coutts.

We expect the decision to approve the transfer will take place at the Final Court Hearing on 31 May 2022.

If the transfer is approved, we expect it to take effect at 00:01am on 2 July 2022.




What is the proposal?


On 17 March 2022, we went to the court of session in Edinburgh to start the process to transfer Adam & Company's business to Coutts & Co.


If the court approves, when the transfer becomes effective, your account(s) will transfer to Coutts and you will be a client of Coutts.


You will continue to see the Adam & Company brand for a period of time after the transfer.


what this means for you?


It is very much ‘business as usual’ at Adam & Company. We want to reassure you that Coutts will continue to offer the same level of service that you enjoy today.


You should continue to use our services as normal through your private banker, Adam 24 and our digital services over the coming months. We will keep you informed about any changes in plenty of time before they take effect.


Looking to the future, Coutts offers an award-winning banking service including access to a new online banking service.


Coutts is proud of being a thriving and inclusive community for its clients and almost 330 years after being founded by a Scottish banker. We are excited to have opened Coutts’ first offices in Scotland in the Autumn of last year. 

what happens next?


On 17 March 2022, the Court of Session granted us approval to write to our clients about the Transfer.


We are writing to all our clients to let them know what is happening, what it means for them and how they can make their views known if they believe they will be adversely affected by the proposed transfer. 


    In April 2021, we announced our intention to transfer our Adam & Company banking and lending business to our sister company Coutts using a legal scheme which requires approval from the Court of Session in Edinburgh.

    This is called a Banking Business Transfer Scheme and is covered under Part VII of the UK Financial Services and Markets Act 2000. As well as needing approval from the Court of Session to transfer the Adam & Company business, engagement is required from the Prudential Regulation Authority (PRA) and has been sought from the Financial Conduct Authority (FCA).

  • If you have any questions or concerns in relation to the Transfer, please contact your private banker in the first instance who should be able to answer any questions you may have. You can also telephone Adam 24 on 0131 278 3777.

    If you think you would be adversely affected by the carrying out of the Transfer, you have a couple of ways to make sure your views and representations are considered by the Court. You can do this by:

    1.     Lodging formal objections with the Court

    You can lodge formal written objections (known as Answers) with the Court. If you wish to lodge Answers, you should seek independent legal advice.

    Answers must be lodged with the Court at The Outer House of the Court of Session (Petition Department), Parliament House, Parliament Square, Edinburgh, EH1 1RQ, on or before 5.00 pm on 11 April 2022.

    Answers must be accompanied by a fee to the Court.

    2.     Informal written objections or attending the Court hearing or in person

    You may attend the Court in person or appoint a legal representative to do so in order to present any objection. Informal written objections may be made to the Court prior to the Final Court Hearing on 31 May 2022. It would be helpful if you could inform RBS in writing with details of your objection at the address below before 5.00 pm on 11 April 2022:

    The Royal Bank of Scotland plc,

    36 St Andrew Square,

    Edinburgh, EH2 2YB.

  • Should the Transfer be approved, we expect it to take effect at 00.01 am on 2 July 2022.

    We expect the final outcome to be announced following the Final Court Hearing on 31 May 2022.


    If the Court approves the transfer, on the date of transfer, you will become a client of Coutts with access to the broader banking proposition and range of services available through Coutts. 

    Your sort codes and account numbers will stay the same.

    You can continue to use banking cards and cheque/paying-in books that are branded Adam & Co until they are replaced with Coutts ones.

    If you already have a Coutts account the transfer may have an impact on your FSCS protection.

    There will be a change to the brand from Adam & Company to Coutts & Co.

  • You will see some changes related to our registered address and company information:

    Legal entity name – Coutts & Company

     Registered in England No. 36695

    Registered Office – 440 Strand, London WC2R 0QS

    Financial Services Firm Reference Number 122287



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