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RBS boss Ross McEwan answers critics live on LBC

In Blog by Ian Fraser0 Comments

29 April 2016   Royal Bank of Scotland chief executive Ross McEwan appeared on LBC for a half-hour phone-in chaired by Nick Ferrari on 20th November last year. Callers included Ray Perman, former FT journalist and author of Hubris: How HBOS Wrecked The Best Bank In Britain, who asked some powerful questions …

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Ross McEwan: “RBS is a yacht with a spinnaker up”

In Blog by Ian Fraser0 Comments

July 13th, 2014 On 2 May 2014, the Royal Bank of Scotland’s New Zealand-born chief executive, Ross McEwan, unveiled a surprisingly strong set of financial results for the bank that he has led since 1 October 2013. But has it really turned the corner? McEwan the and RBS’s outgoing finance …

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Classic over-reach as Goodwin boasted about RBS’s immensity

In Blog by Ian Fraser0 Comments

7th November 2015 The FactSheet compiled by RBS’s senior communications executive and deputy chief economist Andrew Wilson in February 2007 pleased his master, the bank’s chief executive, Fred Goodwin, as it put RBS’s financial success in context. But it was also incredibly bombastic and dangerously hubristic Royal Bank of Scotland issued an …

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Businesses trashed by RBS ‘vampire unit’ refuse to co-operate with FCA appointed sleuths

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 4 October 2015 Businesspeople who claim to have been ruined by RBS’s Global Restructuring Group are refusing to co-operate with a firm hired by the Financial Conduct Authority to investigate the scandal, potentially derailing the probe into the bank’s so-called “vampire unit”. The …

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Paul Mason is right to be angry with RBS

In Blog by Ian Fraser0 Comments

November 12th, 2014 This is brilliant off-the-cuff reporting by Paul Mason, economics editor of Channel 4 News. It’s all very well for the Royal Bank of Scotland’s chief executive Ross McEwan to claim to be angry that some of his bank’s traders rigged the FX markets in order to rip off the bank’s …

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RBS: papering over the cracks

In Article Library by Ian Fraser1 Comment

By: Ian Fraser Published: Sunday Herald Date: 17 August 2014 The decision by RBS to dissolve its Global Restructuring Group, an arm of the bank that stands accused of destroying viable UK businesses for profit, will do little to repair the damage caused to the bank’s beleaguered reputation. By Ian …

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RBS’s annual meeting was more placid than usual

In Blog by Ian Fraser0 Comments

26 June 2014 The Royal Bank of Scotland, which last year made losses of £8.2 billion, held its annual general meeting yesterday. The shareholders’ gathering was a slightly calmer affair than some of the recent ones I have attended. Held at the bank’s sprawling, campus-style “world headquarters” at Gogarburn, near Edinburgh – itself a …

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RBS accused of diversion over malpractice report

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By Ian Fraser Published: Sunday Herald Date: 20 April 2014 Bank accused of misdirecting attention from lawyer’s true findings By Ian Fraser RBS has been accused of using diversionary tactics by Lawrence Tomlinson, an adviser to Vince Cable, after a report into accusations of malpractice by the bank. Tomlinson told …

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Snow: ‘If RBS bosses didn’t know what was going on, they should be fired and prosecuted’

In Blog by Ian Fraser2 Comments

December 17th, 2013 (minor revisions December 18th, 2013) Here’s the Channel 4 News report on the behaviour of RBS and its global restructuring group from Monday 25 November — the day that the Tomlinson Report was published. Jon Snow opened the piece by saying:- “They’re accused of deliberately driving viable small businesses into …

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£1 trillion timebombs RBS must defuse

In Article Library by Ian Fraser2 Comments

By Ian Fraser Published: Sunday Herald Date: 3 November 2013 It will not be broken up … but the future is far from plain sailing. By Ian Fraser Ross McEwan had a baptism of fire on Friday when he made his first set-piece announcement as chief executive of Royal Bank …

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Fred Goodwin: laughing all the way to the golf course

In Article Library by Ian Fraser

By Ian Fraser Published: Daily Record Date: 7 June 2017 It has been one of the longest, most tortuous and expensive legal processes in British history, taking nine years and costing in excess of £190 million in legal fees. The outcome – an out-of-court settlement between investors and the bank …

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Steve Baker: The government is flying blind on banking

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8th November, 2015 In a stark warning to the government, the MP Steve Baker has said we’re flying blind where RBS and the wider banking system are concerned, as accounts prepared using International Financial Reporting Standards (IFRS) cannot be relied upon. In what was the stand-out contribution to last Thursday’s House of …