LONDON – Royal Bank of Scotland says it has made plans to move its headquarters to England in the event that Scotland votes for independence next week.
The bank, a key employer in Scotland and a symbol of its financial sector, says it has drawn up contingency plans because being based in an independent Scotland would create uncertainties that could hurt its business and customers. It says it could affect its credit rating and change the legal, fiscal and monetary environment it works in.
Thursday’s warning comes a day after another financial group, Standard Life, said it is ready to move parts of its business to England in case of independence.
RBS has been based in Scotland since 1727.