The humbling of Scotland’s once proud and buccaneering banking sector, coupled with the near certainty of a recession in Scotland and the UK as a whole, spells hard times ahead for many in the country’s professional services sector.
Before the credit bubble burst, Scotland’s battalions of lawyers and accountants had never had it so good. Work was flowing in on deals involving the Royal Bank of Scotland and HBOS as the two banks carved a path into global capital markets.
