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Teaching
Paragraph 2
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Chief executive Ross McEwan repeated the bank’s hope that it will make its
first annual profit in more than a decade next year, provided it reaches a
settlement with US regulators over mis-selling residential mortgage-backed
securities (RMBS), and satisfies state-aid obligations with the European
Commission (EC) over its Williams & Glyn network, this year. But he warned
the costs of settling the RMBS claim with the Department of Justice (DoJ) may
turn out to be higher than currently forecast.
CEO: Ross McEwan How long has he been CEO?
What is his strategy?
1st annual profit in 10 yrs ???? Effectively nationalised in 2008
US Regulators History of being tough on
companies with large fines
imposed
RMBS What is RMBS and why is the
axe waiting to fall
EC – Williams & Glyn Rationalisation programme
Costs unpredictable DoJ unpredictable in its fine
structure.
