KW: This is also very significant. Readers should be aware that the CEO of Royal Bank of Scotland is none other than our very own ex Hastings Boys High School pupil Ross McEwan, someone I personally know from when he was CEO of National Mutual with which I held an agency at the time. We also ran in a half marathon together. Here he is at the forefront of major financial issues facing the U.K., although I doubt he is going to call for my sage advice! McEwan was seconded into the role of RBS CEO after he had done some hard yards with ASB Bank in Auckland and its parent bank in Australia the National Australia Bank following Ralph Norris during the 2008 crisis. He accepted the poison challice role at RBS that was in serious trouble in the UK at the time and was seen somewhat as a clean sheet to get things fixed, a lot harder when the bank has billions of pounds in bad loans outstanding. Good luck to him.

“We’re not where we thought we would be as a nation by this time this year.”

Source: RBS Shares Plunge As Bank Announces $130 Million ‘Hard Brexit’ Contingency Buffer | Zero Hedge