Page 249 - Bank Case Studies
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Timeline GRG
November 2013
Lawrence Tomlinson releases his report instigated by Vince Cable,
which claimed that RBS profited from struggling businesses by
transferring them into GRG.
Cable instructed two consultancies, Promontory and Mazars, to
produce a report in relation to the GRG unit in RBS, on behalf of the
Financial Conduct Authority Lawrence
RBS undergoes an independent skilled person review of its lending
practices, following allegations that the Bank intentionally put down
good and viable businesses, in the interest of boosting the Bank’s
profits.
January 2014
In April 2014, RBS responded by calling in the law firm Clifford
Chance to do an “independent review” of the Tomlinson Report and
the treatment of businesses within GRG.
April 2014
In April 2014, RBS responded by calling in the law firm Clifford
Chance to do an “independent review” of the Tomlinson Report and
the treatment of businesses
within GRG.
July 2014
In July 2014, Chris Sullivan left the Bank.
