Last Updated: Wednesday, 13 December, 2006, 14:20 GMT 15:20 UK
RBS rumoured to be phasing out The One Account
The lender is allegedly undergoing a huge restructuring process in its retail markets area.
Staff at RBS’s Norwich office were only told by RBS MD for consumer finance Jayne-Anne Gadhia at a recent conference.
Gadhia was one of the founding management members of The One Account and she reportedly told staff that the successful brand would be “phased out” next year – to be replaced by Natwest One.
One anonymous source says: “Many staff members have worked with Gadhia for over 10 years, and are deeply distressed at the manner in which they were informed.
"It seems the higher she climbs, the more she treads on those who helped her get there.”
The reasons behind the change of brand name appear to be because Natwest has struggled to get a grip on the market competing against The One Account and it is hoped that phasing out the leading brand could only help the former.
The source adds: “The new name for RBS should be disloyal Bank of Scotland.”
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