The fall of NatWest - an insider’s account of a takeover battle, part 2
13 September 2012
National Westminster Bank was the prize in one of the hardest-fought takeover battles in British history, as Bank of Scotland and Royal Bank of Scotland each sought control. In the second of two exclusive extracts from his diary, Peter Smith, NatWest’s fo
The story so far: Bank of Scotland (BoS) and Royal Bank of Scotland (RBS) have both made hostile bids for NatWest, looking for big cost savings. NatWest’s purchasing function has decided to close its stationery warehouse in Cheadle and, under the name Project Redgrave, is looking seriously at turning itself into an outsourced service provider.
Saturday 15...