Posts Tagged ‘news’

RBS to shrink investment bank, cut 30,000 jobs: sources

Posted by Anton Murray Consulting on . Posted in News

Matt Scuffham

Royal Bank of Scotland is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said.

The part-nationalised bank has given in to demands from politicians that it focuses on lending to British households and businesses and maintains only a downsized investment banking business to service corporate clients, one source said.