RBS braces for no-deal Brexit by shifting £13bn to Netherlands

RBS braces for no-deal Brexit by shifting £13bn to Netherlands
 

Royal Bank of Scotland has ramped up its Brexit contingency plans, and is preparing to move a third of its investment bank clients and billions worth of assets out of the UK to Amsterdam.
Trading teams across Barclays, NatWest Markets and JP Morgan are also preparing by extending working hours and bringing in extra staff to deal with major market moves after parliament votes on Theresa May’s Brexit withdrawal deal next Tuesday.
RBS Group has lodged an application at Scotland’s supreme civil court to transfer European clients of its NatWest Market business to its Dutch subsidiary.
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7 December 2018 in Business, Views: 52
Source: Guardian
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