RBS plans to scale back its investment bank: sources
Hong Kong
ROYAL Bank of Scotland will hand restructuring chief Rory Cullinan the task of overseeing another major scaling back of its investment bank, sources told Reuters, allowing it to focus on lending to British households and businesses.
Mr Cullinan will take over responsibility for RBS's investment bank from Donald Workman, currently executive chairman for corporate and institutional banking, the sources said.
Mr Cullinan already runs RBS's internal 'bad bank' and is overseeing the sale of its US business Citizens and its Williams & Glynn business in Britain. The bank, 79 per cent owned by the gover…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Citi picks Amit Dhawan to head Singapore commercial bank operations
China finance ministry echoes Xi’s call for bond trading at PBOC
Thai PM asks banks to lower interest rates to help economy
Bank of Japan to hold rates with focus on hawkish signals to buoy yen
From airport lounge access to dining deals: How banks can attract customers with travel perks
Japan to work with counterparts on excessive FX moves, says finance minister