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RBS' central role in the financial crisis led to it being targeted by a protest camp, 'Occupy Edinburgh', who set-up outside their Head Branch on St. Andrews Square in October 2011. The camp was maintained for 108 days and included a number of rallies and protests, as well as a pirate flag being raised on top of the RBS head branch.
It was founded in Croydon by Martin Long and Peter Wood in 1985 as the insurance division of Royal Bank of Scotland. [1]In 1988, it started to sell home insurance. Direct Line is renowned for having transformed financial services in the United Kingdom.
The Bank of Scotland plc (Scottish Gaelic: Banca na h-Alba) is a commercial and clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group.The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the country. [2]
The group owns a number of general insurance brands operating within the United Kingdom, including Direct Line, Direct Line for Business, Churchill, Privilege, Darwin and Green Flag. Direct Line is a company that specialises in selling insurance and other financial services, sold directly to consumers by telephone and the internet. [23]
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This meant that RBS had to open a number of branches on a Sunday – the first time that they had had to do this. [52] RBS released a statement on 12 June 2013 that announced a transition in which CEO Stephen Hester would stand down in December 2013 for the financial institution "to return to private ownership by the end of 2014".