LONDON (Reuters) - Royal Bank of Scotland is to axe 3,500 investment bank jobs and sell or shut equities and advisory business under a 3-year plan to further reduce risk and focus more on domestic retail and corporate banking.
Royal Bank of Scotland is to axe about 3,500 investment bank jobs and sell or shut equities and advisory business under a 3-year plan to further reduce risk and focus more on domestic retail and corporate ...
LONDON: Royal Bank of Scotland (RBS.L) will close its corporate banking operations in India as part of a plan to sell or shut businesses in two-thirds of the countries it operates in, a person familiar with the situation said. RBS, which was briefly the world's largest bank by assets, has spent the eight years since a 45 billion pound ($64 billion) government bailout cutting costs and reorganising. It is closing the Indian business after failing to find a buyer, the person told Reuters on Monday.
The Royal Bank of Scotland is preparing to shed 550 jobs as part of a plan to replace staff who offer investment tips with so-called “robe-advisers”, reports The Guardian.
RBS, which is 73 per cent owned by taxpayers, is shrinking its investment advice team by making the service available only to people with more than £250,000 to invest.
LONDON (Reuters) - Royal Bank of Scotland will make further cuts to its investment banking activities and international operations which, alongside other sale plans, could cut headcount by up to a quarter, sources familiar with the matter said.