When it does arrive, it will have to answer a difficult question. But that was back in the Eighties when all that Sloane Ranger nonsense still meant something. These days Fetherstonhaugh runs his own design business, specialising in corporate communications. He is not someone for whom a Coutts account is a particularly big deal, though he remains a customer. He is, for instance, rather surprised to learn that the staff no longer wear frock coats - a practice that was phased out two years ago.
Private banking is hip again.
If you have a black American Express card, a Franck Muller on the wrist and a Ferrari, a Bentley and a BMW X5 in the garage, then you also have a private banker, or dedicated client liaison team leader, managing your wealth. There are a number of private clients' banks and at the top end we are seeing a big increase in clients dealing with these private banks. It used to be Hoares, Coutts and Child. I wouldn't have thought it necessarily still applies. It cannot be long before some luxury goods house like LVMH or Vendome gets in on the act and takes over a boutique bank.