February 27, 2018 / 9:51 AM / a year ago

Most current RBS turnaround managers worked at criticised restructuring unit, bank says

LONDON, Feb 27 (Reuters) - Ninety-four percent of senior employees in the Royal Bank of Scotland’s current business turnaround unit also worked in its predecessor, which has been accused of pushing firms into bankruptcy, British lawmakers said on Tuesday.

The Treasury Select Committee said RBS had disclosed to it that 30 of the 32 employees at senior manager grade or above were employed by the Global Restructuring Group (GRG), the centre of a political furore over its treatment of troubled business customers.

Chief Executive Ross McEwan recently told the committee that only two senior managers had previously worked at GRG.

In evidence attached to the committee’s statement, the bank said McEwan was referring to the “most senior” management grade in his comments. (Reporting by Emma Rumney)

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