BUSINESS FIRST INNER 39-82:Layout 1 9/6/08 16:54 Page 45
45
THE
Profile
UMBRELLA
MAN
The old adage rings true, that banks lend you an
“I just love going head to head with other banks to win new
umbrella when the sun is shining but take it back
business” he says with some relish. “What wins us the business is not
when it starts raining. Steve Solomon believes his
necessarily the product itself – banks are more or less in the same
ballpark these days, but our obvious desire to build a long term
job is to help his clients stay dry, come rain or
sustainable relationship that will keep going through both the good
shine.
times & the not so good, and help people achieve their dreams.” A
great deal of Steve’s competitiveness comes from his days as a
Being in banking these days can be something of a trial. The public
sport-mad boy growing up in South Wales. He joined the Royal Bank
has reacted with a mixture of disbelief and barely concealed
of Scotland in 1986 so he has been with RBS from the moment the
schadenfreude at the disasters that have befallen the industry,
bank became seriously invested south of the border. Today he
mainly as a result of disastrous decisions over billions of dollars’ worth
confers some of his competitive spirit onto coaching boys’ teams at
of investment. Sub-prime has become such a dirty word. And the
Pulborough RFC in West Sussex. His under-8’s are West Sussex
public is none too happy either that the consequences of this
champions this year & regularly win county honours, and last year
disaster have filtered down to them in the form of tighter credit and
came second out of 80 teams in the Harlequins South of England
less accessible mortgages.
tournament.
Steve Solomon, Regional Director of Business Banking South East for
His concern for young people extends to the rest of society and for
RBS and NatWest, views all this with a wry smile. His bank took the
what that means to business in the future. “Nowadays children are
sub-prime crisis on the chin with a £12 billion rights issue to steady
often cosseted by parents, who discourage them from risk,” he says,
the balance sheet and replenish reserves depleted last year by the
“they are led to think they can have it all. They are no longer
outright cash purchase of ABN Ambro. Steve also knows that his
prepared to put the hours in, get their hands dirty as we used to. If
department, based in Brighton, has nothing to do with either the
my customers have one issue above all confronting them it is
cause of the crisis, but must adapt to its consequences.
getting skilled young people into their businesses. It is increasingly
difficult to find enough that have both the skill and the desire to
“Some people see the rights issue as an emergency measure, I
make something of themselves.”
view it as evidence of our commitment to carry on servicing the
needs of our customers. We are the largest lender to small
Steve does not have a magic bullet for solving this issue, which
businesses in the Uk, and remain 100% open for business & totally
causes headaches throughout the business world. But he does
committed to helping all our customers. Yes, capital is going to be
believe that no matter what field business people are in they can
more expensive in the near future, but what we believe in is working make a difference by putting something back into their
with our customers for the long haul, not running for cover when the communities, by encouraging young people with the spirit of
going gets tough and asking for our money back. It is what sets us leadership, enterprise and competitiveness, or in any other way
apart and its crucial in our role as bankers.” they can.
Behind that drive is a fiercely competitive personality that delights in “It all boils down to integrity and trust,” he says. “Without them, there’s
fighting other banks for business. With close to 300 business bankers nothing. If you add in the passion for what we do then we have a
representing both the RBS and NatWest brands, Steve has a winning formula. Yes, as Bankers we make mistakes, everyone does,
formidable team that has cut an impressive swathe across the SME and it’s frustrating, but just like in sport it is how you recover that is
sector in the south east. He treats his work with the same passion and important. And so is the legacy you leave behind, not only in your
commitment that any other business owner brings to theirs, and the job and with your customers but also in your community.”
fact that RBS is the largest lender in their sector in the UK bears
testament to the competitive spirit of Steve and others like him at RBS. Source: Steve Solomon, RBS steve.solomon@rbs.com
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