Goodbye RBS, hello NatWest - except in Scotland - as Royal Bank of Scotland rebrands

It's a blow to Celtic pride, but the NatWest has a long history in the UK
The RBS brand will fade from view outside of Scotland

Royal Bank of Scotland Group PLC (LON:RBS) is to stop using the toxic RBS brand in England and Wales.

As part of a rebranding strategy ahead of regulatory requirements to ring-fence its retail banking operations by 2019, the taxpayer-owned bank will use the NatWest brand south of the border (and in Western Europe), but will stick with the Royal Bank of Scotland/RBS nomenclature in Scotland.

The UK ring-fencing legislation requires the separation of essential banking services from investment banking services, in the hope of preventing a repeat of the previous decade’s banking crisis, which saw hubristic levels of risk-taking among investment banks bring the global economy to its knees.

RBS’s investment banking arm, currently trading as RBS PLC, will be a non-ring-fenced bank trading under the revived name of NatWest Markets, a name last used by the National Westminster Bank before it succumbed to a takeover by RBS.

Most of the bank’s existing personal, private, business and commercial customers will be transferred from The Royal Bank of Scotland PLC to Adam & Company PLC, the group’s Scottish private bank, by around the middle of 2018.

Coutts and Co, meanwhile, will continue to serve the group’s private banking customers, within the ring-fence.

In Northern Ireland and the Republic of Ireland the company will stick with the existing Ulster Bank and Ulster Bank Ireland brands and legal entities.

"Our proposed future structure under the ring-fencing legislation and our brand strategy are key elements of the bank we are becoming. The future ring-fenced structure of the bank is not only designed to be in compliance with the new regulatory requirements and objectives but will better reflect who we are as a bank and what we stand for: a bank that is focused on its customers," said Ross McEwan, RBS’s chief executive.

View full RBS profile View Profile

Royal Bank of Scotland Timeline

October 30 2015

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.