RBS boss suggests firm will move small number of employees after EU vote

RBS building

Royal Bank of Scotland CEO Ross McEwan said the bank may have to move a small number of staff overseas and called for an end to the uncertainty gripping the main political parties following Britain's vote to leave the European Union.

Reuters reports that McEwan said the bank may have to move "tens" of employees from the UK if Britain loses access to so-called passporting rights that allow financial services in one EU country to provide services to clients elsewhere in the single market.

"One of the key things for me is holding on to passporting so that European banks and British banks can operate across without any boundaries," McEwan told radio station LBC. "If we don't get the passporting it is inevitable that some jobs will disappear" from Britain's financial industry, he said.

RBS has become focused on banking in the UK and Ireland since being rescued with a $59.7bn taxpayer bailout at the height of the financial crisis, meaning it would likely move fewer employees overseas than larger global investment banks.

To access the complete Reuters article hit the link below:

RBS would only move 'tens' of employees post Brexit - CEO

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