Thursday, 11 September 2014

If Yes side wins, Royal Bank of Scotland would move to London

Otmane El Rhazi from CBC | Business News .

Britain Earns RBS

The Royal Bank of Scotland has said it will move its headquarters to London if Scotland votes to break away from the United Kingdom.

Lloyds Banking Group, owner of Halifax and Bank of Scotland, also confirmed it will move its legal entities to Britain if the Yes campaign succeeds.   The smaller Clydesdale Bank has also announced plans to relocate south of the border to mitigate risks.

Pensions and insurance giant Standard Life has also advised investors it is “planning for new regulated companies in England to which we could transfer parts of our business if there was a need to do so.”

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