Coutts & Co has announced plans to open a regional office in Cheltenham, which will also cover the Swindon area.

The new office marks the continued expansion of Coutts throughout the UK, including new offices in the “Gherkin” in London and Reading. This is the third wave of Coutts' regional expansion plan, which has increased the numbers of private bankers working from its offices outside of London by 60 per cent - in some cases doubling local teams.

Research conducted by Coutts, suggests that the Gloucester postcode is already home to almost 5,000 potential millionaires, drawn in by the central Cotswolds location, excellent choice of schools and colleges and good communication links to the North, South, East and West.

Danny Dixon, regional client group head at Coutts & Co, said: “Cheltenham has long been an obvious home for millionaires seeking a rural life. That’s why we're delighted to be opening an office in this exciting new location.

“We already have over 600 clients in the area, which is why it's vital we have a local presence with private bankers who are easily accessible.

“These new offices are a fantastic reflection of the regional expansion programme in which we have invested over the last few years. We want to be accessible and geographically close to our clients.

“Where our competitors are only now beginning to move back into regional private banking, many having exited in 2002/3, Coutts is reaping the rewards of its long-term commitment to the UK regions, which now represent the fastest growing part of our business.

“Year on year we have grown private banker numbers and are delighted to see this programme of expansion continue into new areas.”

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