RBS in England to Become Williams & Glynn's?

chambta

http://www.ft.com/cms/s/0/61b835a6-b858-11de-8ca9-00144feab49a.html

Seems to be some truth in the rumours. Anyone have any memories of the bank?

Extant

Williams & Glynns vs Barnes is a pretty famous case in the history of UK risk management.

Other than that, the name is fairly uneventful.

97trophy

chambta wrote: »

. Anyone have any memories of the bank?

Yes, I used to have an account with them.

Twister84

chambta wrote: »

http://www.ft.com/cms/s/0/61b835a6-b858-11de-8ca9-00144feab49a.html

Seems to be some truth in the rumours. Anyone have any memories of the bank?

I was told about this a few weeks ago - only time will tell whether the rumours are true or not, but I was told that they were thinking about.

pmduk

My first ever bank account was with Williams and Glyns. The service was good

withnell

It would only be some of the english branches, not all

chambta

withnell wrote: »

It would only be some of the english branches, not all

I'm not sure it would be feasible to do that. Surely it'll be all or nothing.

The question I would ask is, given RBS Retail is a profitable business, how will selling it achieve any long term benefit to the group and directly the UK tax-payer?

withnell

It wouldn't benefit RBS or the tax payer - but it would keep the EU competition commission happy that RBS was not benefiting from State Aid

chambta

withnell wrote: »

It wouldn't benefit RBS or the tax payer - but it would keep the EU competition commission happy that RBS was not benefiting from State Aid

My understanding also. Odd given the whole point of receiving the state aid was to benefit from it. If put up for sale as a going concern who could possibly buy that separated business? Santander? Another foreign owner bank looking for expansion into the UK?

Extant

chambta wrote: »

My understanding also. Odd given the whole point of receiving the state aid was to benefit from it. If put up for sale as a going concern who could possibly buy that separated business? Santander? Another foreign owner bank looking for expansion into the UK?

If they spin it off as a re-brand, they are unlikely to do so in the hopes of it being bought - they'd end up re-branded from RBS to W&G to something else.

In all likelihood, private equity would be the best option for such a small network of branches that would likely still rely on RBS wholesale banking to run the bank. It'd no doubt be RBS' preferred option - they could then look to re-buy it in the coming years.

The reality, however, will be determined by exactly what's put up for offer, if anything, in terms of branches, operations centers, deposits, receivables, etc. Too much guessing for now.

chambta

Extant wrote: »

If they spin it off as a re-brand, they are unlikely to do so in the hopes of it being bought - they'd end up re-branded from RBS to W&G to something else.

In all likelihood, private equity would be the best option for such a small network of branches that would likely still rely on RBS wholesale banking to run the bank. It'd no doubt be RBS' preferred option - they could then look to re-buy it in the coming years.

The reality, however, will be determined by exactly what's put up for offer, if anything, in terms of branches, operations centers, deposits, receivables, etc. Too much guessing for now.

Good summary. Worryingly for RBS's English branch staff they seem keen to protect the Natwest retail brand south of the border at the expense of RBS. Understandable I guess but unsettling all the same.