The Queen’s bank has been accused of failing to combat sexual harassment by preparing to attend a notorious property industry gathering in Cannes dubbed the “President’s Club mark two”.

Coutts is among a trio of major London banks quietly planning a return to next month’s MIPIM conference, which has previously faced allegations of drunken sexual misconduct, the use of scantily clad women to promote development schemes, and for attracting legions of prostitutes.

The private bank, along with HSBC and the UK arm of Bank of America Merrill Lynch, pulled out of last year’s jamboree in the aftermath of the President’s Club scandal.

An expose alleged that waitresses at the male-only Park Lane event had been groped having been ordered to wear revealing outfits.

A subsequent investigation revealed that 10 of the 21 tables at the Dorchester Hotel dinner were sponsored by companies related to the property industry, including one, James Andrew International, which has traditionally co-hosted a party with Coutts at MIPIM.

Despite pulling out of the 2018 riviera conference in the wake of the scandal, last night none of the three banks could point to any improvements in female safeguarding to justify their return.