The Royal Bank of Scotland Financial Markets (RBS) is combining the various strands of its e-commerce activities with its existing outsourcing operation into a single team. The new unit will be headed by Tom Roche, who becomes managing director, head of e-commerce and agency treasury services (ATS) at the bank. Roche was previously head of RBS’s outsourcing operation.
The bank says the move is in response to the growing importance attached by clients to the cost and time benefits, and savings achieved by online trading, as well as an increasing trend towards outsourcing some or all aspects of clients’ treasury operations.
Into ATS, RBS has merged its e-ventures operation, the group responsible for developing electronic trading solutions for the bank; RBS’s proprietary FX and money market dealing solution; its external website and all e-commerce related activities in interest rate derivatives and capital markets.
“The operation of our e-commerce activities is intricately bound up with the underlying business areas,” says Roche, “And these distribution channels will serve to bring more efficiency to treasury outsourcing service models. [This] gives us a tremendous opportunity to drive business growth, as well as a strong operational base for service delivery.”