Royal view's shift to new horizons
Article Abstract:
The scheduled sale of the Royal Bank of Scotland's merchant banking subsidiary, Charterhouse, should come as no surprise to those who are familiar with the management style of the bank's new CEO, Dr George Mathewson. Mathewson is known to take the strategic initiative, even when the long-benefits of his actions are not readily evident, for the creation of new strengths that may prove beneficial in the future. Together with his predecessor, Charles Winter, Mathewson worked on delayering the Royal Bank's management structure, establishing link-ups with other European banks, and creating Royal Scottish Life in a joint venture with Scottish Equitable. With the sale of Charterhouse, Mathewson hopes that the Royal Bank can concentrate on its core business of commercial banking and on developing a strategy focusing on distribution systems.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Seizing the chance as the mood turns to going Dutch
Article Abstract:
Netherlands-based Rabobank has just established an office in Edinburgh, Scotland as part of its plan to expand internationally. The Dutch bank's entry into the Scottish market was encouraged by the close ties between the two countries and by the Scottish banking industry's shift from transaction-led banking to relationship banking. David McWilliam, head of Rabobank's Edinburgh branch, is confident that the bank will fare well in Scotland because of the slow-but-sure long term strategy it has adopted. Rabobank is currently concentrating on commercial lending to medium-sized and large firms. McWilliam says that the bank will eventually expand its operations and go beyond providing credit on a bilateral basis to establishing a syndicate on a club basis.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Still waters
Article Abstract:
British Linen Bank (BLB) Group Chief Exec Eric Sanderson attributes the organization's success to strong relationships with clients and an autonomous management structure. BLB set out to make a name in the merchant banking industry through product differentiation and by focusing on the listing potential of medium-sized businesses. The investment house's decision not to diversify into stock brokerage has allowed BLB to retain its contacts. Its decision to merge with Dunedin Fund Managers has made it an internationally competitive funds management business. BLB has maintained its strategic objectives through a management structure that is independent of its parent firm, the Bank of Scotland.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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