Word reaches me that a sort of clone of Coutts & Co is to be created Down Under, in what is surely one of the greatest compliments to the bank since Her Majesty reputedly first opened an account at 440 Strand.

The transplant of the Coutts DNA is being managed by National Australia Bank (NAB), one of the big four Oz banking groups.

The plan for NAB, my man with the prawns sizzling nicely on the barbie tells me, is that it is to combine the leadership of its wealth management business JBWere, private bank NAB Private, and online trading platform nabtrade, into one executive role.

JBWere chief executive Justi...