The invoice finance arms of The Royal Bank of Scotland and NatWest Bank
are to merge. From 1 January 2001 the combined business will be called The Royal Bank of Scotland Commercial Services and full integration is aimed to be completed by
mid-2001.
The combined business will handle client sales turnover of Ј16billion and will have 12 offices across the UK, each with the power to make decisions on a regional basis.
It is hoped that this will ensure a close working relationship with individual companies
and foster the development of tailor-made solutions.
Stuart Holloway, who has been appointed managing director, and was
formerly the managing director of Lombard NatWest Commercial Services
said: "The combined businesses will create a dynamic force in the
industry, with the largest range of invoice finance products available. The integration will
take six months to complete and for the time being it will be very much
business as usual."
