RBS confirms Yes vote London move

Sep 11, 2014, 5:45 AM EDT
A Royal Bank of Scotland (RBS) branch is pictured in London.
AFP/Getty Images

Royal Bank of Scotland has confirmed it has made contingency plans to move its headquarters from Scotland to London if there is a Yes vote in the referendum. The BBC writes:
A Treasury source told the BBC that it had discussed the plans with RBS. Lloyds Banking Group also said it could shift some of its business from Scotland, after customers contacted it for clarification on their finances.
However, the banking group said it was just a legal procedure and "there would be no immediate changes or issues".
Angus Grossart, chairman of merchant bank Noble Grossart, said that people should "not panic" following the decisions made by the two banks. He told the Financial Times that the impact of a Yes vote was "severely overstated".
The statement from Lloyds said: "Lloyds Banking Group has seen an increased level of enquiries from our customers, colleagues and other stakeholders about our plans post the Scottish referendum.

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