The private bank and wealth manager, founded more than 300 years ago, said it was reviewing customer files going back as far as 1957, and added that "if clients have suffered any financial detriment, they will be compensated in full".
The bank, part of
The bank said the review of all of its clients' investments would take some months and was unlikely to be concluded until early 2015. It will be checking the suitability of the historic advice provided to customers.
"A large part of our previous weakness lay in our record-keeping, much of which was paper-based," it said, adding that its front-line staff had previously carried out two "complex" roles simultaneously: general banking and wealth management advice.
The review is focusing on investments held on
It said the final cost of redress and potential individual compensation amounts were unknown at this time.
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