The Chairman of Royal Bank of Scotland (RBS), Howard Davies, warns that if the UK leave the European Union it would risk cutting RBS from its Irish Ulster Bank division. Mr Davies said he was concerned about a “domino effect” in which other banks could follow RBS, and warned against any attempt to create an EU bank with British roots.
The Chairman of Royal Bank of Scotland (RBS), Howard Davies, warns that if the UK leave the European Union it would risk cutting RBS from its Irish Ulster Bank division. This follows concerns voiced by some global banks with operations in London who have said they may move employees in the event of the UK leaving the EU.