Royal Bank of Scotland Group

The overview

RBS Group focuses on Markets and International Banking (M&IB - formerly known as Global Banking & Markets, or GBM), retail financial services and corporate banking. The latter two are kept strong by powerful connections in the relevant markets, in which the organisation is a key player.

The state has had a stake in the company since the banking crisis and currently owns more than 80%. Financial analysts have discussed the possibility of privatisation, but this has tempered in recent months.

The company has had to shed a number of non-essential departments as it endeavours to reach stability, but nevertheless remains a giant of the industry because of its size and reputation in key business areas.

Corporate clients include BAE Systems, Gatwick Airport, GlaxoSmithKline, Hyundai, Nationwide, Tate & Lyle and Tesco.

In terms of innovation, RBS will have the first ATM cash-machines that allow customers to make charitable donations. This comes as a result of the government's wish for an increase in charitable donations, akin to a system currently in place in Colombia.

The breakdown

RBS Group breaks down into a number of different core divisions and subsidiaries. The following recruit UK graduates:

• Markets & International Banking (M&IB): principally focusing on investment and risk management services to a variety of clients. These are also referred to as the 'wholesale' areas of banking.
• UK retail: this is the personal wing of the firm, relating to the ‘everyday’ customer through personal banking and high-street branches.
• RBS insurance: incorporates a range of insurance services for different markets. Its work is not limited to the UK, and subsidiaries include Green Flag and Churchill.
• UK corporate: personalised services again, but as is suggested by the name, these are on a corporate level, so involve dealing with larger clients, including small and medium size enterprises (SMEs).
• Wealth: services are provided through a number of subsidiaries, such as Natwest and Coutts.
• Ulster Bank: Heads the RBS Group banking operations in Northern Ireland, serving as the primary bank there.

Rankings and awards

• Winner, Diversity recruitment award, TARGETJobs Awards 2012
• RBS Group is ranked 17 in Times Top Graduate Employers 2011
• Ranked 27 in Newsweek’s Green Rankings, 2010
• Ranked 45 (equal with Morgan Stanley) in Stonewall's Top 100 Employers in Britain for lesbian, gay and bisexual people, 2012
• Ranked 53 by a leading brand consultancy in the BrandFinance Global Banking 500, 2011
• RBS Group is ranked 55 in Guardian UK300, 2011
• Ranked 55 in Fortune Global 500, 2010
• First for hedge fund sales, Thompson EXTEL Pan-European Survey, 2010
• Listed as one of the Times Top 50 Employers for Women, 2012

Salary and benefits

Salaries differ across divisions but generally reflect the typical market value in their structure; those in investment banking, for example, typically receive more than their contemporaries, even in their first year. This however, is not to say that other salaries offered are a pittance. Reports suggest somewhere between the £24,000 to £30,000 region, depending upon division.

Improvements to salary are performance-based.

Additional Rewards & Benefits

• Pension contributions
• Discounted mobile phones
• Shopping vouchers
• Healthcare
• Discounted bikes

A further option is the ‘Your Choice’ principle, a way of personalising further benefits including:

• Preferential rates through ‘Your Bank’ option
• Special offers on 3rd party products
• A variety of employee share-plans

Culture and values

RBS wants to change its public image and leave behind for good the struggles that followed the infamous 2008 bail-out. CEO Stephen Hester has said that RBS is proving itself by gaining strength and ‘picking off the sins of the past’.

The selling point for applicants is that good staff will form the basis of the future regeneration of the company.

The selling point for applicants is that good staff will form the basis of the future regeneration of the company. The Swedish research firm Universum has confirmed an increase in the number of applicants to RBS on account of the strength and appeal of its graduate scheme. The survey did concentrate on students studying business degrees only, however.

RBS has opposed the Independent Banking Commission’s proposal that internal firewalls should be introduced within large banking organisations to safeguard against a future financial crisis. The bank says it is against the idea because the benefits in terms of safety would be unsatisfactory and would not be worth the additional costs.

Corporate social responsibility

RBS has tapped into graduates’ growing interest in corporate social responsibility by including such projects in its training schemes. It is well placed to do this, as it is a key provider of finance for small and medium size enterprises (SMEs). It also tends to contribute more than its competitors towards their combined SME loan target, known as Project Merlin.