RBS 2003 Annual Report Download - page 89
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87
Annual Report and Accounts 2003
Operating and financial review
Employee numbers at 31 December
2003 2002 2001
Corporate Banking and Financial Markets* 15,900 16,900 12,800
Retail Banking 30,700 30,100 30,500
Retail Direct 7,300 7,000 6,200
Manufacturing* 21,800 21,900 22,800
Wealth Management* 5,600 6,000 6,600
RBS Insurance 19,400 10,500 9,200
Ulster Bank 4,400 4,400 4,500
Citizens 14,100 13,300 11,500
Centre 1,700 1,700 1,600
Group total 120,900 111,800 105,700
Acquisitions in the year 9,700 5,600 5,000
Underlying 111,200 106,200 100,700
* Prior periods have been restated to reflect the transfer in 2003 of certain activities from Corporate Banking and Financial Markets and Wealth Management to Manufacturing.
2003 compared with 2002
The number of employees increased by 9,100, 8% to 120,900.
The acquisition of Churchill added 8,500 staff in RBS Insurance.
2002 compared with 2001
The number of employees increased by 6,100, 6% to 111,800
reflecting business growth and 5,600 from acquisitions, offset
by staff reductions from integration.