Page 17 - RBS GRG F Case Study
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RBS Response to
Report
In April 2014, RBS
responded by calling in the law firm Clifford Chance
which often advised it to do an "independent review" of
the situation. They "found no evidence of systematic
defrauding of business customers." (25)
“On the back of the report, the new RBS chief executive,
Ross McEwan, did a victory lap of media interviews
welcoming the report and praising the work of GRG. “Our
independent report said this was a pretty good unit,” he
said in one radio phone-in. Thus emboldened, the bank
announced that it was considering suing Tomlinson.” (25)
Two months later, Derek Sach,
GRG Chief Executive and Chris
Sullivan, RBS, Deputy Chief
Executive were called before
the Treasury Select Committee
for questioning by MPs.
“Andrew Tyrie, the committee
chair, took aim at the Clifford
Chance report. “You have
described that as independent. Doesn’t Clifford Chance
do business for RBS, other business?” Sach had to admit:
