Page 23 - RBS GRG F Case Study

It was claimed that the documents showed that bank
staff were asked to identify, to be rewarded with higher

bonuses on fees collected for restructuring business

customer’s debts. They might even find a way to "provoke
a default". One RBS executive described this as ‘Project

Dash for Cash’ (Diagrams 3,4).

Guidance on how to squeeze cash from customers and
achieve a transfer was provided to bank staff even to the

extent of acting against those who might be seeking a

way to extricate themselves from the bank. (Diagram 4,5)

Diagrams 6 and 7 show that GRG was a profit centre with

income from fees exceeding its expenses and giving a

profit of £1.2bn in 2011.

The 2014 Clifford Chance report said it had found no

evidence to support most of Tomlinson’s accusations - for

example, that West Register was deliberately targeting

client's assets.

“However, the documents show West Register was being

passed information about properties held by customers

transferred to GRG even before the companies had

agreed to sell them, apparently undermining that

conclusion.” (31)

More than 12,000 companies were pushed into GRG in

the period after 2008.