Sandy Shaw knows how different life would be if she’d been born in the Middle East. Not only would she not be a private banker, it’s debatable whether she would have even entered the working world. And that’s just for starters. Since joining an Arab owned institution in the UK in her late teens and moving to Coutts seven years ago, Sandy has carved out a successful career there - negotiating different cultures and customs every step of the way.

Sandy started off as all other bankers did in the region 35 years ago – proving herself to gain client trust. But she had an additional hurdle - not only was she young, she was also a working woman – something highly unusual back then.

“Proving yourself was all about knowledge. If you were different, which I was because I was a woman and there weren’t many women in banking back then, you had to prove that you had the same knowledge or better than a man before you’d be accepted,” she says, simply. “Once I proved that and gained their trust, I was a bit of a novelty! They were even quite proud to say ‘this is my private banker’ and of the fact that I was a woman.”

Client trust is still the basis of Sandy’s thriving career. “If you win trust in the Middle East, clients are very loyal to you,” she explains. “Even if they get very cross about a product, they will remain loyal unless you do something absolutely horrible. It’s a very personal relationship, one that’s exceedingly rewarding.”

Today, just gaining access to clients is the barrier initially faced by private bankers and financial institutions looking to break into this lucrative market. “Clients don’t want a stream of bankers trawling through their offices, so they will only see people they know or people that are recommended to them. If you’re starting from nothing, it’s very difficult.”

Working in the region has involved a drastic departure from UK norms for Sandy over the years. “If you went about finding out information in the Middle East the way UK banks do, you’d be out the door in five minutes,” she laughs now. “Clients are very secretive. They won’t tell you what they own or how much they’re worth. They’ll give you money to invest and that’s all. As you get to know them, that information evolves.”

Clothes were another element she found deeply rooted in the cultural psyche. Although Saudi Arabia is the only country women are required to cover-up completely, in many other countries, dressing appropriately is a question of respect.

“If you went about finding out information in the Middle East the way UK banks do, you’d be out the door in five minutes. Clients are very secretive”

“I always cover my shoulders and knees because it’s an insult to their culture to show your body as a woman. Even when I go out for dinner in London with clients, I’ll still wear the same thing,” she admits. “They may not say anything but, in terms of disrespect, it’s huge. And, if you’re in business, it’s not a good start.”

Investing time in clients has also been crucial. “I always give myself ten to 20 minutes extra to be social at the beginning of a meeting. You never walk into a meeting and say ‘Hi, I’ve brought your report, here you go’,” she smiles. “You ask about how they are, about their business, their wife and their children before you start. It’s like a ritual. If you don’t have that personal relationship, you won’t do any business.”

A ‘personal relationship’ in the Middle East often goes far beyond what it tends to mean in the UK. As a trusted financial adviser, Sandy is often treated as part of the extended family and invited to celebrations.

“It is a very social thing being a private banker to clients. If you show you care, calling when their children are having babies or when someone’s getting married, you’ll often be invited to get involved in family life, where you see a very different side of Arabia. It’s wonderful.”

Although some countries feel like a second home to her – like Kuwait, where she’s worked since the beginning and has many good friends – others feel less so. In Saudi Arabia, Sandy is less relaxed conducting business as a result of restrictions put on women’s dress and behaviour.

Even socialising can be difficult. Out for dinner with a male and female private banker from her team recently, she had to pretend they were her son and daughter to be allowed to sit together - otherwise her male colleague would have had to sit separately. “We got away with it, but it’s not very good news for me because David, my private banker, isn’t actually much younger than me!”

“When I travel, I take dollars with me because, if anything happened, it would be dollars that could get you out”

Laughs aside, she tends to leave the Saudi market to the men. “It’s just a matter of comfort. You’ve got to be covered, you need a driver and blacked-out windows. Even standing in a hotel in your abayah (long black garment), headscarf and brief case in your hand, everyone will look at you.”

She does, however, deal with a number of women clients. “Women can’t receive a man in Saudi Arabia that’s not their husband, so they definitely can’t take a male visitor into their homes to do business.”

Personal security is an issue she’s become accustomed to. “It can be scary if you get to your hotel and a tank is in front of it. You have to think about who they’re protecting and whether the hotel might be under threat of a terrorist attack.”

She’s also been working in cities while bombs have gone off. “There’s a security team within the RBS Group which gives advice and my clients on the ground tend to be an excellent source of knowledge in respect of any danger areas. If you’ve worked in the Middle East region for a long time though, you tend to get on with things.”

One thing she doesn’t take lightly is always carrying emergency cash. “When I travel, I take dollars with me because, if anything happened, it would be dollars that could get you out. People laugh, but it’s actually a very sensible precaution.”

On the whole, Sandy wouldn’t change a thing about her career and is as interested and ambitious as ever. She’s currently heading up a project to bring together a global Coutts private banking team dedicated to the region. “It’s a big challenge that will take five or six years,” she says. “And, together with handling my clients, I think it will give me a real thrill.”

By Barbara Walshe