RBS Chief Gets Tense About Brexit and Warns Labour on Breakup
- Bank has been engaging with Labour party, McEwan says
- CEO says it’s hard to break up bank, citing failed branch plan
This article is for subscribers only.
Ross McEwan surprised markets in October when Royal Bank of Scotland Group Plc made a provision related to Brexit. With Theresa May’s divorce deal from the European Union potentially days away from being defeated, he’s not any less concerned.
“I have been a backer of the deal because, for the moment, I don’t see another deal,” McEwan, who has been chief executive officer of the state-owned British lender for five years, said in a Bloomberg Television interview. The economy needs more certainty, because right now “investment isn’t being made,” he said.