Second RBS/GRG exec works for Santander


Second RBS/GRG exec works for Santander

by Mike Birkett, 25/01/2018

It has emerged that a second former executive with Royal Bank Of Scotland (RBS) and connected to the controversial GRG division is working alongside former RBS chief Nathan Bostock at Santander.

Liberal Democrat leader Sir Vince Cable used Parliamentary privilege to name Mr Bostock as the person responsible for the controversial Global Restructuring Group (GRG) which is claimed to have wrecked small businesses it was supposed to be helping.Read More


MPs slam RBS over ‘disgraceful’ memo


MPs debate disgraceful memo

Royal Bank Of Scotland (RBS) has been slammed by a group of MPs over the wording of a ‘disgraceful’ memo about the workings of their Global Restructuring Group (GRG).

They were commenting on a previously unpublished internal memo in which the department supposed to be helping businesses in trouble were told: “Rope – Sometimes you need to let customers hang themselves.”Read More


GRG failed 90% of small business clients – FCA report

GRG failed 90% of small business clients – FCA report

A previously secret report has confirmed the ‘vast majority’ of businesses dealt with by the Royal Bank Of Scotland (RBS) GRG team ended up in liquidation or ‘long term intensive care.’

The Financial Conduct Authority (FCA) previously refused to publicise the report of its investigation into the dealings of RBS’s Global Restructuring Group, despite intense pressure from MPs.Read More


Police examine controversial RBS division

Police examine controversial RBS division

Scottish Police are understood to be examining the controversial GRG division of Royal Bank Of Scotland (RBS) after being asked by Crown prosecutors to look at their handling of clients.

Scottish BBC business correspondent Joe Lynam revealed officers from the economic crimes unit are gathering evidence before any formal criminal investigation is undertaken.Read More


Co-op sells last 1% of its bank

Co-op sells last 1% of its bank

The Co-operative Group has sold its last 1% stake in the bank which bears its name four years after it virtually collapsed and had to be bailed out by American hedge funds.

The sale of the last few shares, valued at £5 million, came as the group reported a 48% fall in interim profits after their insurance business fell into loss.Read More


The Great Escape: Co-op Bank signs £700m rescue package

Co-op sign rescue deal

The Co-op Bank has signed a £700 million rescue package to prevent it being wound up under Bank Of England regulations.

The Manchester based bank has signed a deal with its existing investors who have agreed to swap their debt for a stake in the bank.Read More


Co-op Bank reports £477 million losses

Co-op Bank reports £477 million losses

Just a month after putting itself up for sale the Co-operative Bank has posted a £477 million loss on trading for 2016.

It is less than the £610 million figure for 2015, but is the fifth year in a row the bank has lost money.Read More


Co-operative Bank puts itself up for sale

Co-operative Bank puts itself up for sale

The troubled Co-operative Bank has decided to put itself up for sale to secure its future.

The loss-making bank has made the move four years after it nearly collapsed and had to be bailed out by US hedge funds.Read More


Lloyds hit by massive cyber attack

Lloyds hit by massive cyber attack

Lloyds Banking Group has been hit in a massive international cyber attack which brought down its digital services intermittently for two days.

It has emerged that the co-ordinated attack happened two weeks ago and was aimed at a number of British high street banks, but it was the members of Lloyds Banking Group (LBG) – Lloyds, Halifax and Bank Of Scotland – who were affected most.Read More


RBS fails all six stress tests

RBS fails all six stress tests

Royal Bank Of Scotland (RBS) has failed all six of this year’s Bank Of England stress tests and has had to draw up a new £2 billion capital plan for its future.

Read More