Page 42 - RBS GRG F Case Study
P. 42
Timeline GRG
November 2013
Lawrence Tomlinson releases his report instigated by Vince Cable,
which claimed that RBS profited from struggling businesses by
transferring them into GRG.
Cable instructed two consultancies, Promontory and Mazars, to
produce a report in relation to the GRG unit in RBS, on behalf of
the Financial Conduct Authority Lawrence
RBS undergoes an independent skilled person review of its
lending practices, following allegations that the Bank intentionally
put down good and viable businesses, in the interest of boosting
the Bank’s profits.
January 2014
In April 2014, RBS responded by calling in the law firm Clifford
Chance to do an “independent review” of the Tomlinson Report
and the treatment of businesses within GRG.
April 2014
In April 2014, RBS responded by calling in the law firm Clifford
Chance to do an “independent review” of the Tomlinson Report
and the treatment of businesses
within GRG.
July 2014
In July 2014, Chris Sullivan left the Bank.
