RBS: John Hourican interview

Can Hourican dig RBS out of its hole?

What do you say to people, perhaps outside the industry, that say that after what happened RBS should exit investment banking?

Global banking and markets (GBM) is a core engine of growth that will help lead RBS out of the circumstances the group finds itself in.

Let’s get over the misunderstanding that having a wholesale business is a bad thing. Yes, we had a very large balance sheet at a terrible time. But a small percentage of our business created the losses.

Most of our businesses are fundamentally good. They have not just survived the past difficult couple of years in the market, they have flourished.

But you must have spent a good proportion of your time assessing which businesses to keep since you became head of GBM?

I’ve had my head under the bonnet looking at how this business works, revisiting all of our products and opportunities, looking at our customer base, how we operate with our clients and setting out the strategy of RBS global banking and markets as part of the RBS group.