LONDON – The chief executive of Royal Bank of Scotland says the company will move its headquarters out of Scotland if the country votes for independence.
RBS said before Scotland's 2014 independence referendum that it would leave in the event of independence. CEO Ross McEwan says Britain's June 23 vote to leave the European Union had not changed that.
He told the BBC on Sunday the bank "would just be too big for the economy" of Scotland, which has a population of about 5 million.
But he said there would not be big job losses among the 12,000 RBS employees in Scotland.
While Britons overall voted 52-48 to leave the EU, Scots strongly backed staying in. Scottish First Minister Nicola Sturgeon says that makes a second independence referendum "highly likely."