{"id":1784,"date":"2018-09-02T16:36:00","date_gmt":"2018-09-02T16:36:00","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/rbs-warns-of-no-deal-brexit-loss-of-customers\/"},"modified":"2018-09-02T16:36:00","modified_gmt":"2018-09-02T16:36:00","slug":"rbs-warns-of-no-deal-brexit-loss-of-customers","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/rbs-warns-of-no-deal-brexit-loss-of-customers\/","title":{"rendered":"RBS warns of no-deal Brexit loss of customers"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape has-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Ross McEwan\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/18340\/production\/_103263199_gettyimages-475234873.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><figcaption class=\"media-caption\"><span class=\"off-screen\">Image caption<\/span><br \/>\n                <span class=\"media-caption__text\"><br \/>\n                    Ross McEwan said 150 senior staff had been moved to the bank&#8217;s new operation in Amsterdam<br \/>\n                <\/span><br \/>\n            <\/figcaption><\/figure>\n<p class=\"story-body__introduction\">The chief executive of Royal Bank of Scotland has warned that the bank may have to shed a number of business customers if there is no Brexit deal.<\/p>\n<p>Ross McEwan said 150 RBS staff had been deployed to Amsterdam to set up a new operation serving the bank&#8217;s European customers ahead of a no-deal scenario.<\/p>\n<p>He said the bank was &#8220;preparing for the worst&#8221; and was still awaiting final approval on licences for the operation. <\/p>\n<p>The UK is on course to leave the EU in March next year.<\/p>\n<p>Prime Minister Theresa May has said she is confident of striking a deal with the European Union over a future trade relationship.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                 <span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Reuters<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>However, the UK government has also been preparing for a no-deal scenario amid growing concern about the potential disruption to financial markets if no deal is reached.<\/p>\n<p>In an interview with BBC Scotland, Mr McEwan said: &#8220;We are planning, unfortunately, for the worst. <\/p>\n<aside class=\"quote\">\n<div class=\"quote-inner\">\n<span class=\"icon-quote\"\/><\/p>\n<blockquote class=\"quote\"><p>If we don&#8217;t get the right licences, and we don&#8217;t get them in time, that could create major problems for our customers and for the bank<\/p>\n<footer>Ross McEwan, RBS chief executive<\/footer>\n<\/blockquote>\n<\/div>\n<\/aside>\n<p>&#8220;If there is no agreement and we fall out of Europe, we have to be ready for our customers.  <\/p>\n<p>&#8220;So we&#8217;re setting up an operation in Amsterdam, awaiting final approval for the correct licences.<\/p>\n<p>&#8220;We&#8217;re having to put a number of our senior team and our systems and processes to move our European customers across into that entity for our markets business and our corporates. <\/p>\n<p>&#8220;If we don&#8217;t get the right licences, and we don&#8217;t get them in time, that could create major problems for our customers and for the bank.&#8221;<\/p>\n<p>Mr McEwan said that if the bank failed to secure trading licences for its Amsterdam operation, it would be unable to provide services to some of its European customers.<\/p>\n<p>He added: &#8220;In the next couple of months, we&#8217;re going to have to make some decisions, to make sure we&#8217;ve got the licences and if we don&#8217;t, we&#8217;re going to have to think about which European customers we may not be able to bank.&#8221;<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/uk-scotland-scotland-business-45387687\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Image caption Ross McEwan said 150 senior staff had been moved to the bank&#8217;s new operation in Amsterdam The chief executive of Royal Bank of Scotland has warned that the bank may have to shed a number of business customers if there is no Brexit deal. Ross McEwan said 150 RBS &hellip; <\/p>\n","protected":false},"author":0,"featured_media":1785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1784"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/1785"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}