Page 231 - Bank Case Studies

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.