Page 30 - RBS GRG F Teaching Note

Observations

January 30 2018, while appearing before the Treasury Select

Committee, Ross McEwan blamed his subordinates for

GRG’s mistreatment of small businesses, suggesting the

unit’s senior executives, not boardroom leaders, were at

fault.

The FCA report even though it lacked authority over GRG’s

actions nevertheless detailed the unacceptable treatment of
small business owners after the global financial crash by

GRG.

Sai Andrew Bailley FCA Chief Executive

“It is important to recognise that the business of GRG

was largely unregulated and the FCA’s powers to take

action in such circumstances, even where the

mistreatment of customers has been identified and

accepted, are very limited.” (3)

An RBS spokesperson said:

“We are deeply sorry that customers did not

receive the experience they should have done

while in GRG. The report makes for very difficult

reading and some of the language used by our

staff in the past was clearly unacceptable." (5: see

case study)

However, GRG may well have looked at its customers as

1. Basket cases – time consuming but remunerative