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RBS warns Scotland independence would 'significantly' impact costs

RBS warns Scotland independence would 'significantly' impact costs

Royal Bank of Scotland has warned that a vote for Scottish independence would ‘significantly’ impact the group’s costs and would be likely to have a negative impact on its credit rating.

A vote to leave the UK ‘could significantly impact the group's costs and would have a material adverse effect on the group's business, financial condition, results of operations and prospects, said RBS, which is headquartered in Edinburgh but remains 81% owned by the British taxpayer.

More generally the uncertain nature of Scotland’s membership of any currency union ‘could also impact the fiscal, monetary, legal and regulatory landscape to which the group is subject’.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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