Hugh joined the Royal Bank of Scotland (RBS) as a graduate trainee in 1981, and moved into the corporate banking division. Since then he has covered shipping clients, healthcare clients and professional services firms, as well as charities and local government. Hugh originally graduated in English Lit and Lang from Liverpool University, and has an MBA from Warwick University plus the ACIB (Associateship of the Chartered Institute of Bankers award).
Q: Why corporate banking?
You get to meet the decision makers and owners of large companies and to discuss the strategic drivers of the business. We deal with companies with a turnover of £20m to £1bn.
Q: What does managing the charities and local government team involve?
I lead a team of nine relationship managers who work with charities and local government. Our role is not just about helping our clients to borrow money. We also aim to make them more efficient in terms of the way they manage their money, and receive payments. For example, we provided all the credit card payment services for the Comic Relief Red Nose Day. There were around 1m transactions to process.
Q: Does ‘charity’ work differ from ‘normal’ corporate banking?
It’s a bit different because they don’t operate in the commercial sector – charities are governed by boards of trustees, which adds a layer of complexity when you’re working out how much they can afford to borrow. Local authorities have their borrowing limits regulated under a separate act of parliament. But charities and local government clients still expect fast decisions and excellent service when, for example, they want to borrow to invest in a new building.
Q: What for you are the best and worst aspects of corporate banking life?
The best thing is seeing people’s businesses succeed and feeling you’ve contributed to making it happen over a period of time. The worst is finding that clients have got into difficulties through a change of circumstances that’s often beyond their control.
Q: What about the legendary long lunches?
Talking to people, understanding how they operate and what’s important to them is a vital part of the role. It often helps to do that in a relaxed atmosphere, so lunches are involved. But if you’re going into the real detail of a company’s finances and projections of their business, this is not best achieved over food!
Hugh’s tips- Enjoy it, because if you aren’t enjoying it, you won’t perform well.
- Be positive.
- Go the extra mile – don’t just provide the solution you’ve been asked for, but look at what the business wants to achieve.
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