A Scottish businessman who suffered at the hands of RBS’ Global Restructuring Group (GRG) has paid £20,000 to erect a billboard in London which criticises RBS for its “crimes” against those forced into GRG.
Neil Mitchell, the former Chief Executive of Torex Retail, claims that GRG ruined his business and thousands of others. The billboard claims that RBS “caused austerity, suicides, bank’s crimes, economic destruction” and Mitchell hopes that the billboard, designed as a newspaper front page, will raise awareness of the Bank’s wrongdoing.
The widespread mistreatment of customers in GRG was recently revealed in a report by the Financial Conduct Authority, including confirmation that an internal memo was sent to staff which told them to let businesses “hang themselves”. Despite this evidence of wrongdoing, the Financial Conduct Authority advised that their “powers to discipline for misconduct do not apply and that an action in relation to senior management for lack of fitness and propriety would not have reasonable prospects of success”.
Neil Mitchell has filed a legal application to try to overturn the Financial Conduct Authority’s decision and hopes that the billboard will help to raise awareness of the Bank’s poor treatment of small and medium businesses in GRG. Mitchell has designed other billboards and is eager to display them, especially in Edinburgh. Mitchell said “It is worth it for the attention it is getting.”
If you have been a victim of misconduct by any UK’s banks, then Seneca Banking Consultants are here to help. We are one of the leading claims management companies in the country for securing redress. Please feel free to get in touch on 01204 322 805.