Office of ex RBS chief to house 80 entrepreneurs

Royal Bank of Scotland has transformed the executive wing of its headquarters near Edinburgh, synonymous with the excesses of former CEO Fred Goodwin, into a hub for start-up businesses, as part of the bailed-out bank’s bid to revive its reputation.

The bank, almost destroyed by an acquisition binge by Mr Goodwin in the run up to the financial crisis of 2007 to 2009, said the new centre, at Gogarburn, would bring together key Scottish business organisations and entrepreneurs to support economic growth.

RBS, which is 79%-owned by the British taxpayer, said last Thursday it would drastically shrink its investment operations to focus on lending to British households and businesses.