Scottish independence would still prompt RBS HQ move – BBC News

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Image copyright PA

Royal Bank of Scotland still prepares to move its head office from Scotland ought to there be a “Yes” vote in any future self-reliance referendum.

Chief executive Ross McEwan, nevertheless, worried that such a relocation would not cause significant task losses in Scotland.

Warnings about a possible relocation of RBS head office included greatly in the project ahead of the September 2014 self-reliance vote.

Mr McEwan stated the bank’s position had actually not altered, regardless of the Brexit vote.

In the EU referendum 62% of Scottish citizens wished to maintain subscription while the UK as an entire voted by 52% to 48% to leave.

First Minister Nicola Sturgeon has actually guaranteed to check out all choices to keep Scotland’s relate to Europe however has stated a 2nd self-reliance referendum is now “extremely most likely”.

Shortly prior to the very first self-reliance vote in 2014, RBS validated it had actually prepared contingency strategies to “re-domicile” the bank’s holding business to England.

Image copyright PA
Image caption Ross McEwan has actually been helm of RBS considering that 2013

In a BBC interview, Mr McEwan was asked if that position stayed the very same now that the UK had actually voted to leave the EU.

He stated: “We ‘d need to make the very same relocations I presume due to the fact that the Royal Bank of Scotland, being domiciled in Scotland, would simply be too huge for the economy, even in the shape that we’re developing.

“That’s around the plaque, it’s not about where our individuals are due to the fact that we have a huge company up here in Scotland.

“I’ve got 12,000 individuals who serve both the Scottish individuals and we likewise run our retail company from up here together with a great deal of our innovation.

“Two years back when we had the Scottish referendum, I made it really clear we ‘d have individuals in the ideal location, that moving the plaque didn’t make any distinction to them. I believe that would be the exact same. I believe for any USA, they simply have to stay extremely competitive so companies like ourselves wish to run in those usas.”

Asked exactly what he would state to Nicola Sturgeon if she desired his views on the financial effect of a 2nd self-reliance vote, he responded: “Just appraise unpredictability – that’s exactly what you’re seeing after Brexit.

“It’s unpredictability that slows markets down. Make certain the long video game’s worth it. That’s going to be up to the individuals of Scotland.”

Read more: http://www.bbc.co.uk/news/uk-scotland-scotland-business-37071767