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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:
