Royal Bank of Scotland Group plc
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| Subsidiary | |
| Industry | Finance and insurance |
| Founded | 1727 |
| Headquarters | Edinburgh, Scotland |
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Key people
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Ross McEwan (CEO) |
| Products |
Finance and insurance Consumer Banking Corporate Banking |
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Number of employees
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92,400 |
| Parent | Royal Bank of Scotland Group |
| Website | www |
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Footnotes / references 1 Wholly owned subsidiary of Royal Bank of Scotland Group plc. 2 Royal Bank of Scotland Group total. |
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The Royal Bank of Scotland (Scottish Gaelic: Banca Rìoghail na h-Alba, Scots: Ryal Baunk o Scotland, Welsh: Banc Brenhinol yr Alban), commonly abbreviated as RBS, is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. Both the bank and its parent, The Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre-dates The Royal Bank of Scotland by 32 years. The Bank of Scotland was effective in raising funds for the Jacobite Rebellion and as a result, The Royal Bank of Scotland was established in 1724 to provide a bank with strong Hanoverian and Whig ties.
Following "ring-fencing" of the Group's core domestic business, the bank is expected to become a direct subsidiary of NatWest Holdings in 2018. NatWest Markets comprises the Group's investment banking arm. To give it legal form, it is proposed that the current RBS entity will be renamed NatWest Markets; at the same time Adam and Company (which holds a separate PRA banking licence) will be renamed Royal Bank of Scotland, with Adam and Company continuing as an RBS private banking brand in Scotland, along the same lines as the Messrs. Drummond and Child & Co. businesses in England.
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Wikipedia