Scottish financiers try to save the Bank of Scotland

A prominent group of Scottish financiers are hatching a £6 billion bid to save the Bank of Scotland, reports the Sunday Herald.

The group includes Scottish Futures Trust chairman Sir Angus Grossart and convenor of Scotland’s Council of Economic Advisors Sir George Mathewson. Both connected with the SNP Government.

Alex Neill, the SNP MSP, and member of the Finance Committee in the Scottish Parliament is hoping to meet with the group this week.

The Sunday Herald reports that the First Minister might be sympathetic to the plan, as long as jobs are saved.

Under the plan, the Bank of Scotland would be separated from the Halifax arm.

It might also be looked on more favourably by the monopolies commission.

I have a feeling it will also be looked on favourably by the Scottish public.

If this group provides the necessary capital it must be given the chance to buy the bank.

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