RBS Banking England and Wales

End of an era

CEO Ross McEwan reveals brand RBS will be reduced to a back office role as he confirms bank will focus on 'local aspirations'

THE brand RBS will be cut to a back office role, according to bank CEO Ross McEwan.

The step means the Royal Bank of Scotland will cease to exist for customers outside Scotland.

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RBS CEO Ross McEwan … ‘we are now becoming much more a bank of brands’

Mr McEwan told BBC Scotland the RBS brand would continue to be associated with the bank’s global ambitions.

It has now been deemed right to let more national brands return to the fore.

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Meanwhile, in England and Wales, all references to RBS will be changed to NatWest.

In the Republic of Ireland and Northern Ireland, the Ulster Bank brand is already in use.

Royal Bank of Scotland chief Mr McEwan told BBC Scotland: “The RBS brand will end up becoming our investor brand and the one that our staff are employed with, because we are now becoming much more a bank of brands.

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“As the bank itself became a global brand, RBS became the global brand.

“I’m now saying we no longer have global aspirations, we have local aspirations.

“Each one of those brands will stand for something quite different in their own communities, and our staff will work with customers under those brands.”

The chief executive continued: “The time is right for us to move to the bank of brands, because underneath (we’ve been asking) how do we focus on making this a better bank for customers?”

Alamy

Royal Bank of Scotland … ‘I’m now saying we no longer have global aspirations, we have local aspirations’, CEO Mr McEwan confirms

“It would have been very cynical three years ago if we’d said we’re going to be a great bank for customers and put those brands out there.

“But with the work we’ve been doing, focussing on the customers’ needs, not our own, I think you’re seeing a lot of change.