Royal Bank of Scotland Group
|Type||Public limited company|
The RBS Group operates a variety of banking brands in the business banking, private banking, insurance, and corporate finance industries in North America, Europe, and Asia.
Some of the main subsidiaries of the RBS Group include The Royal Bank of Scotland, National Westminster Bank, Ulster Bank, Drummonds, Coutts & Co. and Citizens Financial Group. In the insurance industry, RBS group owns Churchill Insurance, Direct Line, Privilege, and NIG.
- RBS Bonus Scheme Sparks Fresh Controversy Amidst Huge Losses Incurred - 23rd February 2012
RBS operations are divided into six different categories, each with several subsidiaries. 
The UK Personal division is comprised of retail, corporate, and commercial banking and wealth management services, and is itself split into two main sections, UK Retail and UK Wealth. 
- UK Retail
- UK Retail offers a range of financial services to small businesses through the RBS and NatWest brands. They serve one quarter of the UK small business market, helping over 1.1 million customers.
- UK Wealth
- UK Wealth offers banking and investment services to high net worth clients and businesses alike both in the UK and internationally. Services are also extended to offshore corporations and financial institutions.
- Services provided include:
- Investment & Portfolio Management
- Trust & Estate Planning
- Services provided in the UK Wealth division are offered through Coutts & Company, Adam & Company, and RBS International.
The UK Corporate banking sector focuses on corporate and commercial customers, providing daily banking services, specialist help, and other products. This section of the business is the largest provider of risk management, finance, and banking services to corporate and commercial customers in the UK. 
- Global Transaction Services
- RBS utilises its industry knowledge in combination with its product strengths and wide-reaching network to satisfy the needs of its commercial, corporate, and institutional customers.
- Services include:
- Cash & Liquidity Management
- Trade & Supply Chain Finance
- Merchant Acquiring & Commercial Card Products & Services
The insurance division of the RBS Group includes the following brands: 
- Direct Line & Direct Line for Business
- This company sells home, motor, travel, pet, and life insurance to customers online or via phone. It was the first company to sell insurance over the phone, started in 1985.
- Direct Line for Business was started in 2007, providing insurance for small businesses over the phone. Their current products include home business, van, tradesman, landlord, shop and pub insurance.
- Churchill was founded in 1989 and is now one of the top providers of general insurance in the UK, with services including car, home, travel, pet, van, and motorbike insurance. These services are available over the phone and online.
- Privilege was started in 1994 and specialises in competitive car insurance for safe drivers. Their services are also offered via phone or online. Products include a choice of home insurance products.
- Green Flag
- Green Flag was started in 1971, providing customers with 24 hour breakdown coverage every day of the year. They operate in the UK and Europe with leading response times.
- NIG is a top provider of business insurance in the UK. Policies are sold through insurance brokers.
- UKI Partnerships
- This subsidiary underwrites and administers policies for many large companies and financial services institutions, having partnerships with a variety of well known motor manufacturers.
- This company is the UK's top provider of vehicle tracking services. Over one million systems have been installed to date.
- Direct Line operates internationally in Germany and Italy. They provide motor insurance in Germany, and home, motor, and motorcycle insurance in Italy, with over 1 million policies sold to date.
US Retail & Commercial
All US operations are conducted through Citizens Bank and Charter One Bank. RBS acquired Citizens Financial Group in 1988 to enter into the American market. Citizens acquired Charter One Financial in 2004.
Citizens is involved in retail and corporate banking activities, with branches in 13 states and non-branch activities in other states. Citizens was ranked the tenth largest commercial bank in the US based on deposits based on figures from 30 September 2008. 
EMEA Retail & Commercial
Ulster Bank provides extensive services in Ireland. Its retail banking division has a network of branches and operations in the personal, commercial, and wealth management sectors. Additionally, its corporate markets operations provide services in institutional and corporate markets.
Ulster Bank also has a retail banking presence in Romania, the United Arab Emirates, and Kazakhstan. 
Global Banking & Markets
This division offers a wide range of services for institutions and major corporations to help them achieve their financing objectives. 
- Debt & Equity Financing
- Risk Management
- Investment Services
- Advisory Services
- Mr. Hampton was appointed as Deputy Chairman on 19 January, 2009, then Chairman on 3 February, 2009. He served previously as Chairman of J Sainsbury Plc, Group Finance Director of Lloyds TSB Group Plc from 2002-2004, Group Finance Director of BT Group Plc from 2000-2002, Group Finance Director for British Gas Plc from 1995-1997, Group Finance Director for British Steel Plc from 1990-1995, Executive Director of Lazards from 1981-1990, as well as a Non-Executive Director of RMC Group Plc from 2002-2005. He is the former chairman of UK Financial Investments Ltd, and a current Non-Executive Director of Belgacom SA and Anglo American Plc. 
Group Chief Executive
- Mr. Hester was appointed to the Board on 1 October, 2008, then to the position of Group Chief Executive on 21 November, 2008. He has previously served as chief executive of The British Land Company Plc and Chief Operating Officer of Abbey National Plc. He performed various roles at Credit Suisse First Boston and served as Non-Executive Deputy Chairman of Northern Rock Plc from February-October 2008. 
Group Finance Director
- Mr. van Saun was appointed to the Board in October 2009 following 25 years of experience in the financial services industry. He served in various roles as a part of the Bank of New York. Before that, he held senior positions at Deutsche Bank, Wasserstein Perella Group, and Kidder Peabody & Company. 
- Sir Sandy Crombie
- Sir Crombie joined the Board in June 2009 and is the current chairman of the Group Sustainability Committee. Outside of RBS, he is the Chair of Creative Scotland, President of the Cockburn Association, and Vice Chairman of the Board of Governors of the Royal Scottish Academy of Music & Drama. Mr. Crombie left Standard Life Plc in 2009 after 43 years of service. 
- Alison Davis was appointed to the Board in August 2011. She is a former director of First Data Corporation and former chair of the board of LECG Corporation. Mrs. Davis currently serves on the board of Unisys Corporation, the advisory board for City National Bank, and as the director of other private companies. 
- Mr. Di Iorio joined the Board in September 2011 after he retired as CFO and member of the Management Board of Deutsche Bank in 2008. He has held previous roles at PaineWebber International and NationsBank as Chairman & CEO and CFO respectively. 
- Mrs. Hughes joined the Board in January 2010 and serves as the chair of the Group Remuneration Committee. She also serves as a Non-Executive Director for WM Morrisons Supermarkets Plc and Cable & Wireless Worldwide Plc. She has formerly served as a director for Gap Inc, Home Retail Group Plc, Vodafone Plc, Reuters Plc, and Skandinavixka Enskilda Banken AB. She spent a majority of her career at Coca Cola and was appointed President for the UK and Ireland in 1992. 
- Mr. MacHale was appointed to the board in 2004. He is currently on the board of Brit Insurance Holdings Plc and a trustee of MacMillan Cancer Support. He held a number of positions with JP Morgan between 1979 and 2001. 
- Mr. McFarlane was appointed to the board on 1 October 2008. He is the former Chief Executive of Australia and New Zealand Banking Group Limited, former group executive director of Standard Chartered, and former head of Citicorp in the UK and Ireland. He currently sits on the board of Westfield Holdings Limited and Old Oak Holdings Limited. 
- Mr. Nelson was appointed to the board on 1 April 2010. He has held senior positions at KPMG including the title of Global Chairman for Banking in 1999 and Global Chairman for Financial Services in 2002. Mr. Nelson has been a board member of the Financial Services Skills Council since 2008 and currently serves on the board of BP. 
- Baroness Noakes joined the Board in August 2011. She also serves as a director for Severn Trent Plc and Carpetright Plc. Her previous directorships include the Court of the Bank of England, ICI, Hanson, SThree, and John Lating. She retired from KPMG in 2000 after 30 years of service. Baroness Noakes was involved with the Treasury as an Accounting and Financial Advisor and as Director of Finance for the National Health Service. She was appointed to the House of Lords in 2000. 
- Mr. Ryan was appointed to the board on 1 October 2008. He is the former CEO of Prudential Financial Inc. Mr. Ryan also holds a Non-Executive Director role at Regeneron Pharmaceuticals Inc. 
- Mr. Scott was appointed to the board on 1 November 2009. He has a wide range of experience, including a number of senior executive positions at Aviva. He is also on the board of Diageo Plc and a fellow of the Institute of Actuaries. 
Royal Bank of Scotland Group has 58,458,100,000 shares in circulation according to their 2010 Annual Report. 
Analysis of Shareholders 
Shareholders Shareholdings # Shares (millions) % of Total Individuals 214,556 1,232.5 2.1 Banks & Nominee Companies 17,045 56,131.1 96.0 Investment Trusts 163 20.4 0.1 Insurance Companies 187 3.9 ~ Other Companies 1,442 631.5 1.1 Pension Trusts 40 9.0 ~ Other Corporate Bodies 103 429.7 0.7
The Bank was founded in 1727, originally opened with a staff of just eight and the first premises were in the Old Town of Edinburgh. For more than half a century, RBS traded solely from the Scottish capital, but in 1783 the first branch was opened in the fast-growing trading city of Glasgow. This new office was soon conducting over half of the Bank's entire business. Spurred on by this success, many more branches opened across Scotland and then, in 1874, the first office opened in London.
The company expanded rapidly in the nineteenth century, acquiring many English banks, including Williams Deacon's Bank, Glyn, Mills & Co, and Drummonds Bank. Expansion continued and the first office in New York opened in 1960. The group merged with National Commercial Bank of Scotland in 1969 to expand their market share in Scotland.
RBS continued its growth through the application of new technology. In the 1970s, they welcomed in computerisation and introduced new mult-function cash dispensers. In the 1980s, Direct Line Insurance was formed and Citizens Financial Group was purchased in the US, further establishing RBS at the forefront of telephone and internet banking.
The group acquired National Westminster Bank in 2000, absorbing over 200 NatWest branches. In 2005, they formed a partnership with the Bank of China, and in 2007, they acquired the Dutch bank ABN AMRO in one of the biggest takeovers the banking industry has ever seen. The company continues to establish itself as an international banking giant with banking and insurance operations around the world.
- ↑ About RBS - Group Structure
- ↑ RBS UK Personal Division
- ↑ RBS UK Corporate Division
- ↑ RBS Insurance Division
- ↑ Citizens Financial Group
- ↑ RBS EMEA Retail & Commercial
- ↑ RBS Global Banking & Markets
- ↑ 8.00 8.01 8.02 8.03 8.04 8.05 8.06 8.07 8.08 8.09 8.10 8.11 8.12 Our Board
- ↑ 9.0 9.1 2010 Annual Report
- ↑ About RBS