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<p>On 1 November 2013, RBS committed to a new direction, focussing on its core British
business, supporting British families and companies. RBS's new direction is supported
wholeheartedly by the Bank of England, UKFI and the Government.</p><p> </p><p>RBS
and its subsidiaries retain their own independent boards and management teams for
strategic and operational decision-making.</p><p> </p><p>The Government's shareholding
in the Royal Bank of Scotland (RBS) is managed on a commercial and arm's length basis
by UK Financial Investments Ltd (UKFI).</p><p> </p><p> </p>
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