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The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

January 2004

From Queen covers to the Queen's bank




Spandex-clad, mullet-haired cult band The Darkness has made it – and we're not talking about the million album sales, or sell-out worldwide tours. Rather, the members of Lowestoft's flamboyant quartet, born out of a Queen-inspired karaoke night in a Norfolk pub, have just become customers of prestigious private bank Coutts.

Guitarist Dan Hawkins confesses that only 12 months ago he had to "borrow £30 off a mate to get the train fare to go back home to Lowestoft". But after shooting to fame in 2003, the glam rockers, with the help of West Midlands chartered accountant firm Clement Keys, are now transferring their accounts to Coutts, joining other customers such as the Spice Girls, England football players and Queen Elizabeth II.

"As a result of The Darkness's meteoric rise to fame, we are pulling out all the stops to provide the band with practical financial support," says Michael Meakin, partner at Clement Keys. "Coutts has the expertise to handle the band's current and future needs, so it was a logical step to move their banking base to the specialist unit."

Coutts has had a successful 2003 itself. During the course of the year, the bank expanded its UK regional offices, most recently opening one in Liverpool.

Plans to open a further two regional offices in the UK this year have been announced, with one in the county of Suffolk being cited as a possible option. Could this mean an office opening up in Lowestoft, Britain's most easterly port? "You never know," says Coutts' Rachel Faulkner.







Being a debt lawyer is quite fun again – you actually get to negotiate some terms!

It is no surprise that the only happy people in the debt market are... the lawyers

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