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RBS fails to get two key elements in £33m swaps case struck out

26 April 2016 By Ian Fraser A High Court ruling over evidence relating to its rigging of Libor and the destruction of businesses via its global restructuring group, looks like a turning point for RBS The Royal Bank of Scotland has failed in its attempt to strike out key elements of a major claim against its activities, concerning both its infamous […]

April 26th, 2016 | Posted in Blog | Read More »

Breakthrough in RBS trial as judge orders bank to produce Fred’s emails

By Ian Fraser Published: Sunday Herald Date: 29 March 2015 Note: This is an unedited version of the article that was published in the Sunday Herald on 29 March 2015. This draft dates from 20 March 2015. The published version is available here. The Royal Bank of Scotland has been rapped over the knuckles by a […]

March 29th, 2015 | Posted in Article Library | Read More »

Hard hats for bankers

By Ian Fraser Published: Business Quarter (BQ) Date: 13 October 2014 At a dinner to mark the departure of chief executive Stephen Hester in September 2013, the Royal Bank of Scotland’s finance director Bruce van Saun gave Hester’s anointed heir, Ross McEwan, an unusual present. Hester, a keen horseman, had been the bank’s chief executive […]

October 13th, 2014 | Posted in Article Library | Read More »

US law firm takes on action group’s case against RBS

By Ian Fraser Published: Sunday Herald Date: 12 October 2014 Several hundred businesses that claim to have suffered at the hands of Royal Bank of Scotland’s “turnaround” division have appointed US law firm Quinn Emanuel Urquhart & Sullivan to represent them in a planned case against the bank. The RBS GRG Business Action Group members […]

October 12th, 2014 | Posted in Article Library | Read More »

RBS: papering over the cracks

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 Fraser As a damage limitation […]

August 17th, 2014 | Posted in Article Library | Read More »

On the trail of Fred the Shred

By Ian Fraser Published: Sunday Herald Date: 8 June 2014 Ian Fraser’s new book, Shredded – Inside RBS: the Bank that Broke Britain, has been acclaimed as the definitive account of the crisis. Here he reflects on the 13 things he learned along the long, hard road to publication (1) Fred the Shred was not […]

June 8th, 2014 | Posted in Article Library | Read More »

Thousands of staff line up to sue RBS

By Ian Fraser Published: Sunday Herald Date: 27 April 2014 A third of the 12,000 plus individuals who have signed up to sue the Royal Bank of Scotland over its “misleading” £12.3 billion 2008 rights issue are current or former members of staff at the bank. RBoS Shareholders’ Action Group, the largest of the investor […]

April 27th, 2014 | Posted in Article Library | Read More »

Chuka Umunna: PWC’s useful idiot?

January 23rd, 2014 I’ve long wondered how committed the Labour shadow business secretary and MP for Streatham Chuka Umunna really is to UK banking reform. It seems the answer is “not very”. In the furore that followed the publication of the Tomlinson Report on November 25 last year, a report which (accurately, in my view) […]

January 23rd, 2014 | Posted in Blog | Read More »

EADS chief executive Robin Southwell drawn into a hornet’s nest

December 20th, 2013 In June and August 2010 I reported on the business relationship between the EADS (UK) chief executive Robin Southwell (pictured right) and David Mills — a “business turnaround” specialist and former NatWest banker who was charged with conspiracy to corrupt, fraudulent trading and money laundering on 8 January 2013. The charges followed […]

December 20th, 2013 | Posted in Blog | Read More »

The banality of vulture financing: The placid face of RBS’s distressed debt recycling facility

September 10th, 2013 (minor edits November 4th, 2014) Derek Sach inadvertently gave away some of RBS’s trade secrets in this interview with Debtwire’s Mario Oliviero. Sach — who is in charge of RBS, NatWest and Ulster Bank’s so-called Global Restructuring Group — was interviewed during the Debtwire European Forum in London’s Dorchester Hotel on 16 October 2012. […]

September 10th, 2013 | Posted in Blog | Read More »