ABI reaction to RBS AGM

Responding to RBS’s AGM today Peter Montagnon, the ABI’s Director of Investment Affairs said:

“Shareholders are right to question the pension decision of the previous board. This company now needs to look forward. We must now support the new board’s efforts to rebuild the business for the benefit of taxpayers, shareholders and the broader economy

“The Chairman has warned of the dangers attached to “public flogging”. We agree it is time to move on.”

– ENDS –

Notes for Editors

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

3. An ISDN line is available for broadcasts.