Ex-RBS Execs Admit Tensions With Crisis-Era Gov't Agency
Law360, London (November 5, 2019, 7:54 PM GMT) -- Two former senior executives at Royal Bank of Scotland were grilled at a London court on Tuesday about the influence wielded by a now-defunct government agency immediately after the financial crisis, testifying at a trial over the bank’s alleged treatment of a property development company.
Derek Sach, who headed up RBS’ controversial Global Restructuring Group between 2008 and 2014, and John Donald Workman, a former executive chairman for corporate and institutional banking, told the court that the bank felt pressure from the Asset Protection Agency, which ran the program used by the U.K. government to bail out RBS in 2008....
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