the Bank of Scotland ( RBS ) is considering making radical changes to its plan to set up and spin off Williams & plc ( W&G ) as it tries to accelerate the delayed project . Reports suggest that RBS and its advisers have been trying to find alternative routes to establish spin off bank , W&G , so as to save time and money on the £ 1.5bn project . One plan would be to set up W&G as a separate bank but let it continue using RBS ’ systems – the same setup used by TSB when it was sold off by plc . Another , far more radical changes discussed by the advisers , would include splitting off NatWest as well , joining the large retail bank to W&G and merging them as one much larger bank . As we noted last month , RBS warned it would miss the opportunity with the European Union of the new bank being independent by the end of 2017 .
Royal Bank of Scotland (RBS) is considering making radical changes to its plan to set up and sell off Williams & Glyn (W&G) as it tries to accelerate the delayed project. Reports suggest that RBS and its advisers have been trying to find alternative routes to establish spin off bank, W&G, so as to save time and money on the £1.5bn project. One plan would be to set up W&G as a separate bank but let it continue using RBS’ systems – the same setup used by TSB when it was sold off by Lloyds. Another, far more radical idea discussed by the advisers, would include splitting off NatWest as well, joining the large retail bank to W&G and selling them as one much larger bank. As we noted last month, RBS warned it would miss the deadline with the European Union of the new bank being independent by the end of 2017.