Global Restructuring Group at RBS
Between 2007 - 2012 over 12,000 small and medium enterprises (SME) were filtered into NatWest and Royal Bank of Scotland (RBS)’s Global Restructuring Group (GRG), a business support unit (BSU) for ailing businesses.
In 2013 whistle-blower Lawrence Tomlinson reported that GRG took advantage of struggling businesses to secretly boost RBS and NatWest profits; bank managers were reportedly encouraged to identify customers who could be financially exploited under “Project: Dash for Cash”. An estimated £65 billion of assets were obtained through these means.
Despite GRG’s treatment of small business customers having been the subject of ongoing regulatory investigation, public and political outrage was further heightened earlier this year when the Financial Times reported that 30/32 former GRG senior managers are now working for the bank’s new restructuring unit.
During this session commercial barrister Rachel Coyle will provide viewers with an overview of what GRG is, what you and your clients need to be aware of and how to determine if someone has been mistreated by RBS/Natwest.
Guidance will be offered on the courses of action available and whether you should bring a complaint yourself or seek help.
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