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RBS shareholders call for governance committee

RBS-Building-2012-700x450.jpgRBS shareholders have called for the creation of their own governance committee to liaise with the board.

Shareholder associations ShareSoc and UK Shareholders’ Association will submit the resolution on Friday on behalf of 136 investors, the Financial Times reports.

The purpose of the committee would be to improve corporate governance and shareholder engagement.

RBS said in a statement: “Whilst it is of course the role of the company directors to represent shareholders, we will review any proposal that is submitted and make our response clear in due course.”

This is the second year the shareholder associations have proposed the committee, which was previously rejected by RBS. The groups have adjusted their proposals in response to the bank’s concerns.

In October, it was revealed the Government was waiting for the big-four lender to clear the air with US authorities before it sells down its £3bn stake in the bank.

In December, RBS announced it is shutting 259 branches, one in four of its physical offices, and making 680 people redundant.

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