Royal Bank of Scotland
PO BIX 1000
Gogarburn, Edinburgh EH12 1HQ
CEO: Sir Fred Goodwin
Stock Symbol: RBS
RBS, The Royal Bank of Scotland Group,
is one of the world's top 10 financial services groups and a
leading provider of personal, business and institutional banking
The company provides personal banking to
customers as well as wealth management for high net worth individuals,
banking for businesses and corporate and institutional customers.
RBS has employees in more than 50 countries
and serves about 40 million customers .
The Group's brands include RBS, NatWest,
Ulster Bank, Coutts, Citizens and other financial services companies.
RBS led a consortium which acquired ABN AMRO in October 2007.
The company has over 26,000 employees in
the U.S. most of whom work for Citizens
Bank, a regional bank serving New England.
The Royal Bank of Scotland was founded
in Edinburgh by Royal Charter in 1727 and for several decades
was traded solely from the head office in the city's Old Town.
However, in 1783, it opened the first branch office in Glasgow
and went on to develop a large network of offices throughout
Scotland during the 19th Century.
In 1874, The Royal Bank of Scotland opened
a branch office in London and from the 1920s developed, by acquisition,
a major presence in England. Banks which joined the Group during
these years included Drummonds (established c.1712), Williams
Deacon's Bank (established 1836), Glyn, Mills & Co (established
1753) and Child & Co (established c.1580), with business
in London, north-west England and overseas.
By 1970, following The Royal Bank of Scotland's
merger with the Edinburgh-based National Commercial Bank of Scotland
(comprising the former National Bank of Scotland, established
1825) and the Commercial Bank of Scotland (established 1810),
we accounted for more than 40 per cent of Scotland's banking
Under the Williams & Glyn's Bank banner,
the bank had a large and growing presence in England and Wales.
In 1985, Williams & Glyn's merged fully with the Group's
Scottish clearing bank which, thereafter, traded throughout Britain
as a single entity - The Royal Bank of Scotland.
During the 1980s, the Group diversified.
It set up the car insurance company Direct Line in 1985 and acquired
Citizens Financial Group (established 1828) of Rhode Island in
the USA in 1988. Both were to prove highly successful ventures.
During the early 1990s, RBS refocused on
its core business of retail banking, acquiring the private bank
of Adam & Company (established 1983) in 1992. The company
launched Direct Banking in 1994 and it quickly became Britain's
fastest growing 24-hour telephone banking operation. Then, in
1997, RBS announced the UK's first on-line banking service, as
well as embarking on joint financial services ventures with Tesco
and Virgin Direct.
In 2000, in the biggest takeover in the
history of British banking, the Royal Bank acquired National
Westminster Bank plc to create a huge group with a highly diversified
portfolio of services for personal, business and corporate customers.
Total Reward describes the value of everything
employees get in return for working for us. At the heart of their
Total Reward is cash - their salary and benefit funding plus
any bonuses, incentive payments or allowances they may receive.
Retail & Leisure
Discounted shopping vouchers for many major
supermarkets and high street retailers are available through
RBSelect - these include Sainsburys, Asda, Somerfield, Marks
& Spencer, GAP, John Lewis, Dixons and many more.
Lifestyle benefits, often with great tax
savings, are available through RBSelect, these include: Childcare
Vouchers, Bikes, Holidays - buy or sell, Wine, mobile phones
& Telephone Legal Advice.
Health cover benefits are available through
RBSelect, these include: Health Care Cash Plan, Private Medical
Cover, Dental Insurance & Health Screening.
Savings & Protection
We offer a range of options to enable employees
to save and plan for the future. These include an employer funded
flexible Retirement Savings Plan (for eligible employees) and
a choice of share ownership plans. Protection benefits available
through RBSelect include: Life Cover, Disability Cover, Dependants
Pension, Personal Accident Insurance, Critical Illness Insurance
& Life Assurance - Spouse/Partner.
Updated September 30, 2008