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The Royal Bank of Scotland Group, founded in 1727, is one of Europe’s leading financial services groups. By market capitalisation as at 7 March 2002, it is the second largest bank in the UK and in Europe and ranks fifth in the world. In March 2000, The Royal Bank of Scotland Group completed the acquisition of NatWest in a £21 billion deal that was the largest takeover in British banking history. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, the Group also includes other organisations well known in financial circles: • Ulster Bank in Northern Ireland, which also has a very strong presence in the Republic of Ireland. • Coutts Group, the international operator in the private banking sector, managing the portfolios of 70,000 wealthy customers via its 38 offices throughout the world. • Direct Line, one of the major direct motor insurance operators in the UK and Europe and a leading provider of financial services by telephone. • Citizens Financial Group, based in Rhode Island (USA), the second largest bank in New England. Citizens extended its presence to the states of Pennsylvania, Delaware and New Jersey following the acquisition of the regional retail and commercial banking operations of Mellon Financial Corporation in December 2001. • Lombard, one of the world’s leading asset finance companies. In addition to the UK, the Group has offices in Europe, the US, and Asia. A strategic alliance with SCH of Spain provides scope for development of financial service activities across Europe. Tesco Personal Finance, a joint venture with Tesco, is one of the main supermarket banking brands in the UK. www.rbs.co.uk Sector: Banks. Activities: Banking, insurance and other financial services Status: Full Market Cap: (31 Oct 03) £46,617m. P&L: (31 Dec 02) Pretax £4,763m. Ord Capital: (31 Dec 02) 2,860m 25p Ords. (27 Feb 02) Santander Central Hispano SA 9.03%, CGNU 3.41%, Dirs 0.02%. Conv Capital: (31 Dec 01) 603m Non-Cum Conv Pref Shs. Registrars: Computershare Investor Services PLC, Edinburgh. Tel: 0870 702 0010 Mathewson, Sir George Ross, CBE, DUniv, LLD, FRSE, FCIBS (Chairman), (247,948 Ords; 257,601 Incentive shrs). Executive Directors: Goodwin, Frederick Anderson (Fred), DUniv, FCIBS, FCIB ; app Aug 98, (Group Chief Executive), (64,703 Ords; 435,351 Incentive shrs). Watt, Frederick Inglis (Fred), FCIBS; app Sep 00, (Group Finance Director), (7,453 Ords; 116,258 Incentive shrs). McLuskie, Norman Cardie, FCIBS; app Jun 92, (ce, Retail Direct), (154,493 Ords; 156,040 Incentive shrs). Fish, Lawrence Kingsbaker, MBA; app Jan 93, (cd, Citizens Financial Group Inc), (11,120 Ords; 108,027 Incentive shrs). Pell, Gordon Francis, FCIB FCIBS; app Mar 00, (ch, Retail Banking & Wealth Management), (582 Ords; 157,716 Incentive shrs). Non-Executive Directors: Grossart, Sir Angus McFarlane McLeod, CBE, LLD, FRSE, DL, FCIBS; app Sep 85, (Joint Vice Chairman); Vallance, Sir Iain David Thomas, KB NVBA MSc; app Jan93, (Joint Vice Chairman), (2,500 Ords); Robertson, Iain Samuel, CBE LLB CA FCIBS; app Jan 93, (125,139 Ords; 304,122 Incentive shrs); Botin, Emilio; app Feb 89; Inciarte, Juan Rodriguez; app Feb 98; Mackay, Eileen Alison, CB FRSE FCIOBS FRSGS FRSA (Rem, Aud); app May 96, (6,140 Ords); Wilson, William Moore (Bill), CA ICAS FCIBS (Rem, Aud); app May 93, (9,793 Ords); Sutherland, Peter D, SC; app 01; Scott, Robert Avisson ( Bob), CBE AAII [Rem]; app Apr 01, (1,445 Ords); Robson, Sir Steve (Aud); app Jul 01; Currie, Dr Jim, MA (Rem); app Nov 01; Buchan, Colin Alexander Mason; app Jun 02. Company Secretary: McLean, Miller Roy, MA LLB NP FCIBS Dirs Pay: (31 Dec 02) Total (incl pension costs) £13.0m (£8.50m); Ave overall £650,100 (£425,200); Ave higher paid £683,658 (£471,333). CH (excl pension conts) £468,000 (£483,000); HPD £3,352,000 (£2,213,000). Employees: (31 Dec 02) Total pay £4,472m Bankers: Royal Bank of Scotland PLC. Auditors: Deloitte & Touche. Solicitors: Freshfields Bruckhaus Deringer; Dundas & Wilson, Edinburgh; Linklaters |
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