RBS England and Wales is in the process of being separated out to create Williams & Glyn – a new bank for UK personal and business customers, with a particular strength in supporting small to medium sized enterprises.
Last September, RBS agreed a £600 million pre-IPO investment for up to 49 percent of the business with a consortium of investors led by global financial services specialists Corsair Capital and Centrebridge Partners.
The task of separating the business from RBS into a standalone bank is well underway, although there remains much work to be done. Williams & Glyn is a bank brand that has been dormant for nearly 30 years but when it returns to the high street it will play an important role in the UK banking sector, providing retail and business banking services to customers via its network of 300 branches around the country, as well as through online, telephone and mobile banking services.
RBS has long been a major supporter of UK business and local business communities, and W&G will incorporate around 250,000 small to medium sized business customers as well as approx. 1.8 million personal banking customers.
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