Former RBS man Sach embroiled in GRG case

THE former head of RBS’s controversial GRG unit has been dragged into a multi-million-pound court case after the bank was asked to disclose thousands of his emails.

Derek Sach, one of Fred Goodwin’s key lieutenants, could be called in a witness in a civil case brought by former property developer Stuart Wall against RBS after he was added as custodian to the case.

Sach, who left RBS in 2015 and is not party to the action, ran GRG in the aftermath of the financial crisis. The division has been accused of squeezing small businesses for profit, a claim it disputes.

Wall is suing RBS for £400 million over the collapse of his property firm Opal in 2013, alleging GRG undervalued Opal’s property. He also alleges senior RBS bosses knew about Libor fiddling. RBS denies all allegations.

Sach was grilled by the Treasury Select Committee in 2014 over his running of GRG and was subsequently accused by MPs of giving “misleading” evidence to the committee as to whether GRG was a profit centre. RBS last month won a case against Property Alliance Group.