BLUE BLOODED British private bank Coutts, whose clients include Queen Elizabeth II, has an interesting way of handling change and motivating staff. Coutts decided that, as part of the latest restructuring, all senior managers should stand down and face reselection by the current chief executive.

The end result: eight top level managers are on their way out and others seem likely to follow because they are unwilling to swot for the Securities Institute's exams, which Coutts is now insisting on.

No doubt, managers in NatWest's other subsidiaries including Ulster Bank - are hoping that Coutts style management will not be transferred elsewhere within the group.