Metro Bank boss slams ‘toxic’ RBS culture during his tenure
Evening Standard, 30.01.18
Metro Bank boss Craig Donaldson on Tuesday told of the “toxic” culture at Royal Bank of Scotland during his time working there.
Donaldson, who worked for RBS from 2005 to 2009, told the BBC: “It was a miserable place to be, my wife said I was a zombie.”
There was a toxic atmosphere higher up in the bank, Donaldson claimed.
“Everybody was competing against themselves internally,” he added. “It was just a vicious environment where people were always trying to climb on the backs of others. It was focused on how can I get on rather than how can I make the business better.”
The Treasury Select Committee has already made public a GRG memo entitled Just Hit Budget! as evidence of its attitude to small firms.
RBS chief Ross McEwan has said this document should “be viewed in context” because it was written by a junior manager.
“At no time did it form part of GRG or RBS policy,” he added. “The culture, structure and way RBS operates has changed fundamentally.”
The memo also said that GRG staff should “let customers hang themselves”, and that “missed opportunities will mean missed bonuses”.
Sir Vince Cable earlier criticised McEwan for his failure to show “genuine contrition” over the bank’s mistreatment of small business customers in the aftermath of the financial crisis.
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