In Order to Succeed, RBS Requires a Diverse Supply Chain!

It has been reported that the success of the Royal Bank of Scotland (RBS) is mainly attributed to a diverse supply chain. This is what the head of procurement with RBS, Jonathan Sutherland feels. Participation of SMEs is crucial for RBS' long term success, Mr Sutherland noted and explained that the move is a "strategic imperative" and good business for the firm because the bank has the most customers in SMEs serving roughly 32 per cent of the sector. This implies that the fortunes of RBS are closely related with the success of these SMEs. He described these companies as "growth makers".

Speaking at the ProcureCon Indirect conference, Mr Sutherland noted that SMEs' performance in terms of supply chain jobs indicates the success of RBS in months and years ahead, and the bank must support the sector through buying products and services from it...

The bank has already taken a number of initiatives to implement these plans by establishing an executive steering group with representatives from across its organisation. Their ultimate goal is to have a registration portal in place where companies can declare interest and garner a better knowledge about potential opportunities.

"A healthy SME market is a healthy client base, which is a healthy RBS, so why would we not be [supporting SMEs through our supply chain]? There is a strategic imperative for us in this. For us it's a case of strategy, not philanthropy," said Mr Sutherland.

Recently, RBS lost its global head of money markets and portfolio investment management with Neil Hookway announcing that was leaving to join independent provider of advisory, software services and business consulting IT to Rule Financial - the investment banking community.

Mr Hookway succeeded as principal consultant in the Domain Group. He has worked in the eurozone contingency preparation programme of RBS previously and will start his new post immediately.

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Patrick MacLaurin has published 33 articles. Article submitted on July 03, 2013. Word count: 351

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