RBS Balance Sheet ‘Too Big For Independent Scotland’

Ross McEwan

Outgoing Royal Bank of Scotland chief executive Ross McEwan has said RBS would move its headquarters to London if Scotland becomes independent because the bank would be too big for the Scottish economy, according to numerous media reports.

According to the reports, McEwan told an editors’ dinner: “I think … if you talk to the Scottish Government they would want us to take the plaque and move it to England because the balance sheet size of this thing would just be too big for Scotland – 730-odd billion, you can’t support it.

“So that would be the change, same as it was four years ago.”

Asked what moving the HQ would mean, McEwan said: “Not much at all. As long as we can get the good talent in Edinburgh this would stay one of our major centres.

“As long as the economy stayed competitive here and we could get talented people and they wanted to work here, not much changes.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.