Royal Bank of Scotland (RBS) is proposing to double the size of its private banking unit by expanding the RBS Coutts brand in international markets, Reuters has reported. The taxpayer-owned group’s head of private banking, Rory Tapner, told the news agency that he aims to win new high net worth clients in the Middle East, [...]
The Government should give its stakes in Royal Bank of Scotland (RBS) and Lloyds Banking Group to all those who appear on the UK’s electoral register, a Liberal think tank has suggested. The banks are currently 83% and 43% taxpayer-owned, respectively, and according to Centre Forum, any privatisation must “meet the twin goals of recouping [...]
Royal Bank of Scotland (RBS) has reported a loss of £1.13 billion for 2010, compared with a loss of £3.6 billion in 2009. Group income rose 10%, to just under £33 billion, alongside good growth in the bank’s core retail and commercial operations. Impairments were down 33% compared with 2009, at £9.3 billion, and RBS [...]
Royal Bank of Scotland (RBS) has appointed Frank Hamer as head of Global Transactions Services (GTS) for China. The group’s GTS operations provide global cash and liquidity management, trade services and commercial cards to corporate clients in over 40 countries and in his new role, Mr Hamer will have responsibility for developing the business in [...]
Ulster Bank, part of the RBS group, has appointed Richard Donnan to the position of chief executive, retail markets, replacing Mike Bamber who recently became managing director of branch banking for NatWest and RBS Retail, in the UK. Mr Donnan has over 22 years of experience in the financial services industry having joined Ulster Bank [...]
Royal Bank of Scotland (RBS) has sold The Priory Group to private equity firm, Advent International. The independent mental health business, which is best known for its treatment of celebrities with addiction problems, is changing hands for up to £925 million, although the disposal will net RBS only around £133 million. Priory operates from 66 [...]
The chairman of Royal Bank of Scotland (RBS) has admitted that large numbers of bankers are paid more than they are worth. Appearing on BBC Two’s “Britain’s Banks: Too Big to Save?” programme, to be screened tonight, Sir Philip Hampton explains that the “star quality” worthy of high remuneration seems to filter down to employees [...]
The Financial Services Authority (FSA) has fined Royal Bank of Scotland (RBS) and subsidiary, NatWest, £2.8 million for multiple failings in the way in which they have been handling customers’ complaints. The banks were found to have responded inadequately to more than half the complaints reviewed by the regulator, which also found an unacceptably high [...]
The National Audit Office (NAO) has been taking stock of the Treasury’s Asset Protection Scheme (APS), set up in 2009 to protect banks against future losses on their riskiest assets. The scheme was intended to free-up banks’ balance sheets to allow lending to businesses and households to continue but in a report published today, the [...]
The Financial Services Authority (FSA) has reportedly agreed to publish in full the findings of its supervisory investigation into Royal Bank of Scotland (RBS), and near collapse of the bank. The regulator previously stated that information gathered from RBS during the course of the review was to remain confidential under the Financial Services and Markets [...]
The scale of government support currently provided to UK banks has fallen from its peak of £955 billion, to £512 billion (as at 1st December 2010), according to the National Audit Office (NAO). In addition, the watchdog is predicting that there will be no overall loss to the taxpayer on the main guarantees, namely the [...]
Shares in UK banks have fallen this morning as the outcome of discussions between the Irish Government and the International Monetary Fund (IMF) are awaited. Reports of UK banks’ exposure to the Irish debt crisis vary but RBS and Lloyds Banking Group are both understood to be significantly exposed. In March, Ireland established a National [...]
