RBS would 'inevitably' move HQ to London if Scotland votes to leave UK

RBS building

Royal Bank of Scotland would 'inevitably' move its headquarters from Edinburgh to London if Scotland votes for independence later this year, Business Secretary Vince Cable said on Wednesday.

Reuters reports that Scotland will hold a referendum in September on whether to end its 307-year union with England, with polls showing around 42% planning to vote against independence and 29% in favour.

Cable said the greater stability offered by Britain's established financial system and regulation would tempt the bank to move its base to England.

'I think if you were managing RBS you would almost certainly want to be in a domicile where your bank is protected against the risk of collapse,' Cable told a panel of lawmakers.

'I think they already have a substantial amount of their management in London and I would have thought that inevitably they would become a London bank.'

To access the complete Reuters article hit the link below:

RBS would move to London if Scotland breaks away 

JPMorgan in exclusive talks with Mercuria on commodities unit sale 

image: © Mark Ramsey

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts