Page 239 - Bank Case Studies

“The RBS memo makes shocking reading," said

Treasury Select Committee member Stewart

Hosie. "It was a step by step guide to fleece RBS

customers." (1,24)

Among the tips circulated to staff within GRG were to sell

clients services that they “normally cannot afford” and

“missed opportunities mean missed bonuses”.

Other points in the guide included
pursuing “basket cases” for work, “if they

sign they can’t complain” and “Rope:

sometimes you need to let customers
hang themselves”. Furthermore,

employees at GRG were encouraged to

raise fees to a level that clients "normally
cannot afford", in order to "leaverage an

upside". (1,4,24)

The internal Memo was written in 2009 and entitled ‘Just Hit

Budget’, had previously been reported on but not put in the

public domain. The Treasury Select Committee published it

in full.

RBS distanced itself from the document, which was

circulated within one regional office and was distributed to
two further GRG offices saying it was produced by a junior

manager no longer employed by the bank and was not

reflective of RBS or the GRG's policy.