Royal Bank of Scotland needs to change its behaviour 'at every level' to restore trust and faces a hard road to recovery, its new CEO said on Monday.
Reuters reports that Ross McEwan joined RBS in 2012 and took over as CEO in October with the task of reviving the bank and its reputation after its $73.8bn bailout by the British taxpayer and scandals such as the mis-selling of loan insurance, for which it has set aside $4.92bn to compensate customers.
'To move from stability to renewal, we need to first address and then clean up every aspect of how we treat customers', McEwan said in a commentary in The Guardian newspaper on Monday. 'We need to change our behaviour at every level to reflect this simple truth'.
New Zealander McEwan said that feedback from staff, the public and customers since his arrival at the bank has been 'both sobering and illuminating'.
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