It is not just Wall Street's investment banks feeling the pinch of global recession, as the banker to Britain's Queen Elizabeth, Coutts & Co, is to advertise for the first time in its 309-year history. "We really believe our clients are not going to think this is going downmarket," said spokeswoman Julie Cooper. "This is not saying come to Coutts, anyone can join Coutts." Some are worried the approach could upset the more conservative customers. "I hope our clients won't choke on their cornflakes," Coutts CEO Andrew Fisher told the Daily Telegraph. Customers will still be required to hold disposable funds of $730,000 to open an account.
