The Royal Bank of Scotland (LON:RBS) will move its head office away from Scotland if the country becomes independent from the UK, the bank’s CEO told the BBC on Monday.
There have been suggestions that Scotland will hold another referendum on UK membership in the wake of Britain’s decision to leave the European Union, in order to maintain its link to the EU. Should this happen, however, RBS will likely redomicile its headquarters, according to chief executive Ross McEwen.
“The Royal Bank of Scotland would just be too big for the economy … but that’s around the plaque and not about where our people (are) because we have a very big business up here in Scotland,” he said.
RBS has been based in Scotland since 1727 and employs 11,000 staff; however, McEwen was keen to clarify that moving HQ would not mean major job losses.
“We will have the people in the right place, moving the plaque won’t make any difference to that,” he continued.