Royal Bank of Scotland and Lloyds Banking Group confirmed this week they would relocate their head offices to England in the event of a “yes” vote in the Scottish independence referendum.
Lloyds, which occupies Edinburgh’s Royal Mile building, said it planned to set up legal entities in England to protect its credit rating.
The taxpayer-backed banks join a third Edinburgh-based institution, Standard Life, which has reiterated plans to create new regulated companies in England from which to do business, and ensure all transactions and customers were covered by UK regulation and the London Stock Exchange.
bridget.o’connell@estatesgazette.com
