“We have been hiring on a selective basis across Asia and are constantly on the lookout for quality talent,” a spokesperson for the bank, part of Royal Bank of Scotland, was quoted by the publication as saying.

RBS Coutts is the international sister private bank of Coutts, the UK firm.

“We expect to increase the pace of hiring when clear evidence of a sustained recovery emerges,” the RBS Coutts spokesperson said.

Although not immune to the impact of the global financial turmoil and the problems of its UK-listed parent banking group, RBS Coutts has continued to commit to wealth management in Asia. RBS Coutts in April launched a new private banking initiative for high net worth female clients in Asia. RBS Coutts Woman is aimed at assisting HNW women in Asia to manage their wealth and bringing together like-minded women.