Three-quarters of the staff and nearly all the senior managers at Royal Bank of Scotlands new division, which supports struggling businesses, previously worked at its controversial Global Restructuring Group, which has been accused of pushing firms into bankruptcy.
The Treasury select committee, which last week published a full report into the GRG scandal, said 136 of 182 employees at the current restructuring business and 30 out of 32 senior managers came from GRG.
At a select committee hearing in January, the RBS chief executive, Ross McEwan, said he believed only two senior managers had come from GRG, including the head of restructuring, Laura Barlow. RBS now says this comment referred to only the most senior management grade.
Read the full article at: https://www.theguardian.com/business/2018/feb/27/mps-concerned-by-rebranding-of-rbs-restructuring-division