Queen’s Banker Sees No Emerging-Market Crisis as Wealthy Buy
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Coutts & Co., the wealth management unit of Royal Bank of Scotland Group Plc, said it doesn’t see a crisis in emerging markets and the firm’s rich clients are taking advantage of this year’s declines to boost holdings.
“If you look at the balance of trade that our clients are doing, they’re buying,” Gary Dugan, the chief investment officer in Asia and the Middle East for Coutts, which counts Queen Elizabeth II among its clients, said in a interview yesterday in Dubai. “There’s been an appetite for Asia and for Russia after the sell-off. There’s no crisis, it’s just talk.”