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Coutts scion to sleep rough

A member of the Coutts family, which was once behind banking giant Coutts and Co, where the Queen keeps some of her money, is set to sleep rough for a week.

A member of the Coutts family, which was once behind banking giant Coutts and Co, where the Queen keeps some of her money, is set to sleep rough for a week.

Drummond Money-Coutts, son of former investment banker Crispin Money-Coutts, who was the last of the Coutts to work in the family business, is hoping to raise awareness of homelessness when he takes to the streets of London in a fortnight’s time.

Speaking to the London Evening Standard, the 25-year-old said he is giving himself just £3 a day to live on. The banker-turned-magician, who is heir apparent to the Latymer Barony, is also planning to perform some magic tricks in a bid to raise funds for the charity.

Drummond isn’t the only Etonian to lend his support to charity Centrepoint’s Sleep Out campaign - contemporary Prince William is a patron of the charity.

Incidentally, Drummond Money-Coutts boasts not one but two private banks in his name - Drummond Bank, another family business, was founded in 1717 and taken over by the Royal Bank of Scotland in the 1920s.

Coutts also hasn’t been family-owned for quite a while, despite various members holding top roles over the last century. In 1919, Coutts took the decision to amalgamate with the National Provincial & Union Bank of England. It then became part of the National Westminster Bank in 1969, which was later purchased by RBS. Coutts is now part of RBS’s wealth management division. 

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