Coutts bankers escape censure over conduct

COUTTS bankers accused of inappropriate conduct escaped punishment, The Daily Telegraph understands.

On Thursday The Wall Street Journal reported that the bank had investigated sexual harassment by Harry Keogh, its star banker.

Mr Keogh, 57, who still works at the bank, was accused of inappropriate behaviour’ including sexually harassing a graduate trainee at a dinner and touching her groin in front of colleagues, the newspaper reported.

But an inquiry by the bank found that while standards in his team had dropped, he was the only one disciplined.

Speaking to The Telegraph a former Coutts employee said she and her colleagues would go on nights out with the men at private members’ clubs. “It was so sexually charged,” she said. “It was obvious that the men wanted to sleep with the women.” Coutts said that “standards had fallen below what we regarded as acceptable” and said “decisive disciplinary action was taken as a result”.

This involved withholding Mr Keogh’s bonus, giving him a written warning and assigning him a coach, but did not affect any other members of staff, The Telegraph understands. Alison Rose, head of commercial and private banking at RBS and a member of the Coutts board, said: “Over the last few years I have appointed a new management team at Coutts and we have focused on improving the culture and [levels of ] inclusion across the business.

“This matter in question was properly investigated in line with our established policies and procedures and based on the findings of this process, appropriate action was taken at the highest level within Coutts.”

The Journal reported that Mr Keogh accepted the disciplinary action without admitting to allegations and denied inappropriate behaviour.