Businessweek

The Royal Bank of Scotland Group plc, through its subsidiaries, provides banking and financial services in the United Kingdom, the United States, and internationally. The company’s subsidiaries include The Royal Bank of Scotland plc and National Westminster Bank Plc (NatWest). In the United States, the company’s subsidiary, RBS Citizens Financial Group, Inc., operates as a commercial banking organization. The company provides a range of products and services to personal, commercial, and corporate and institutional customers. Divisions U.K. Retail This division offers a range of banking products and related financial services to the personal market. It serves customers through various channels, including the company and NatWest network of branches and ATMs in the United Kingdom, telephony, online, and mobile. U.K. Corporate This division provides banking, finance, and risk management services to the corporate and small and medium enterprise (SME) sector in the United Kingdom. It offers a range of banking products and related financial services through a nationwide network of relationship managers, and also through telephone and Internet channels. The product range includes asset finance through the Lombard brand. Wealth This division provides private banking and investment services in the U.K. through Coutts & Co and Adam & Company, offshore banking through RBS International, NatWest offshore and Isle of Man Bank, and international private banking through Coutts & Co Ltd. International Banking This division serves companies with a client proposition focused on financing, transaction services, and risk management worldwide. This division serves as the delivery channel for Markets division's products to corporate clients and serves international subsidiaries of both International Banking and clients from U.K. Corporate, Ulster Bank, and U.S. Retail & Commercial through its international network. Ulster Bank This division is a retail and commercial bank in Northern Ireland and the Republic of Ireland. It provides a range of financial services through both its Retail Banking division, which provides loan and deposit products through a network of branches and direct channels, and its Corporate Banking division, which provides services to businesses and corporate customers. U.S. Retail & Commercial This division provides financial services primarily through the Citizens and Charter One brands. This division engages in the retail and corporate banking activities through its branch network in 12 states in the United States and through non-branch offices in other states. Markets This division is an origination, sales, and trading business across debt finance, fixed income, currencies, and investor products. This division offers a unified service to the company’s corporate and institutional clients. This division's sales and research teams build ongoing client partnerships, provide market perspective and access, and work with this division’s trading and structuring teams to meet the client’s objectives across financing, risk management, investment, securitization, and liquidity. Direct Line Group This division is a retail general insurer with market positions in the United Kingdom, a presence in the direct motor channel in Italy and Germany, and a focused position in U.K. SME commercial insurance. The company operates under recognized brands, such as Direct Line and Churchill, and includes five primary segments, such as motor, home, rescue, and other personal lines, commercial and international. In the U.K., this division utilizes a multi-brand, multi-product, and multi-distribution channel business model that covers various major customer segments for personal lines general insurance. The company also has a focused presence in the commercial market. Other primary Direct Line Group brands include Privilege and Green Flag; NIG, a provider of insurance solutions to the U.K. SMEs; and Direct Line For Business, the company’s direct commercial brand. The company is also a major provider of insurance through various strategic partnerships. In Italy and Germany, the company operates under the Direct Line brand. Discontinued Operations In 2012, the company sold 34.7% of its interest in Direct Line Insurance Group plc through an initial public offering. History The Royal Bank of Scotland Group plc was founded in 1727.