RBS to axe 100 jobs as part of investment bank revamp

London

ROYAL Bank of Scotland Group plc (RBS), Britain's largest taxpayer-owned bank, will eliminate about 100 jobs as part of an overhaul of its investment bank, according to two people with knowledge of the matter.

The departures include senior figures such as Richard Bartlett, head of UK client coverage, and Eric Capp, head of loan and high-yield capital markets, said the sources, who asked not to be identified because the details are private. RBS promoted Scott Satriano, currently head of sales, to lead a reorganised unit of the lender's corporate and institutional bank.