Commentary: An object lesson in burning bridges
The recent RBS panel review has undoubtedly succeeded in pushing down fees, but at what long-term cost?
After several mess-ups and many insults traded, you could be forgiven for expecting egos at the Royal Bank of Scotland (RBS) to be a little bit bruised following its recent panel debacle.Instead the bankers are said to be in a jubilant mood after achieving some of the lowest legal rates in the City. The bank may have fudged the process, but its strategy was ruthlessly sound financially.
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