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CEO may face new grilling

RBS chief McEwan accused of misleading MPs

Ross McEwan facing TSC

Ross McEwan quizzed by MPs in January over GRG


The chief executive of the Royal Bank of Scotland may be hauled back in front of MPS to answer allegations that he misled a parliamentary committee over a police investigation into former bank staff.

Ross McEwan is accused of withholding information from the influential Treasury select committee in January when he denied that he was aware of any criminal activity within the bank.

It has emerged that Police Scotland is investigating allegations in relations to a former employee of its controversial rescue division, the global restructuring group. It was accused of forcing firms towards failure in order that it could acquire their assets cheaply.

Following an inquiry, the regulator found that it was unable to take any enforcement action. But Treasury committee chairman Nicky Morgan has now hinted that Mr McEwan may be recalled “to tell the whole truth”.

Mr McEwan has defended his comments. In a letter to Ms Morgan he said the activities in question fell outside the period under discussion at the hearing.

The activity being investigated by police is said to have taken place between 2014 and 2016.

In his letter, Mr McEwan said: “We would entirely reject the suggestion that the committee may have been in any way misled by the evidence that I gave during my appearance before you in January.”

Nicky Morgan has described his explanation as “unconvincing”.

She said: “[The committee] expects clarity and openness from witnesses, and Mr McEwan’s evidence fell short of that standard” and that the committee is “concerned by the pattern of defensiveness, and a failure to acknowledge mistakes, demonstrated by RBS throughout its handling of the GRG affair”.

Ms Morgan also claimed the letter “casts doubt on his assurances that RBS’ culture has changed fundamentally since he took up his position five years ago”.

She said Mr McEwan will be asked to provide further oral evidence and that the committee “will expect him to tell the whole truth, not an edited version to suit him”.

Mr McEwan said he was “disappointed” by the committee’s response.

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