Tuesday, 2 March 2010

The Other Side of RBS

Health Warning: To those who have any connections to RBS. I take no responsibility for any negative affects on your health should you choose to read this post.

In the past week RBS have declared £3.6bn in losses yet propose to pay out £1.6bn in bonuses and the fact taxpayers own 84% of the bank, I thought you may like to know about the Royal Bank of Scotland's other side.

The 11-storey building (pictured above) is the Royal Bank of Scotland's headquarters in Stamford, Connecticut, America. The gleaming glass and steel building, was planned years before the financial crisis, looms over Interstate 95.

The picture below is a glimpse inside.

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With an outdoor terrace, a gym where workers can purchase massages and one of the largest trading floors in the world, RBS America is the place to work if you're a banker.

RBS's executives were cautious as they were given a tour of the new offices which cost $500 million and was designed in 2006. Executives said the company never considered cancelling the move in light of the bank's problems and they say the building has been a morale booster in tough times.

"It's been a source of pride and kind of a rallying cry." said Robert McKillip, the other co-head of global banking and markets in the Americas. "We've been through a lot."

Visitors are greeted with receptionists wearing tartan blazers and videos of workers and the bank's customers flash in the lobby, an electronic testament to the ebb and flow of the monumental business RBS does in global financial markets.

Should you wish to read more you can do so here but I will conclude with the other co-head Lyublinsky's comment: "No other bank was cleaned up more than RBS."

If that is the case why hasn't the UK taxpayer been paid back?


Jess The Dog said...

I've ditched RBS and will not touch a state-owned* bank with a barge pole. Both RBS and HBOS have plummeted in terms of customer service and competitiveness. Shift to Santander or HSBC...far better service and offers.

*forget taxpayer-owned. They're not.

Anonymous said...

There are clearly 2 worlds on this planet, and I'm in a different one from bankers.

subrosa said...

It's not my bank either Jess. If it was then it certainly wouldn't be now.

subrosa said...

Strange how there has been little said about this other world Tris. I wonder how many of us knew RBS had this luxury just over the Atlantic and with such a erm... positive management.

Crinkly & Ragged Arsed Philosophers said...

Gee, what a lucky lot.

I've never had a bank, they've always 'had'me.

subrosa said...

Me too RA, but I usually put up a fight.

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