News

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.

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Macquarie, NAB, Westpac swerve Investec auction

Posted by Anton Murray Consulting on . Posted in News

Sarah Thompson, Anthony MacDonald and Gretchen Friemann

Macquarie Group is no longer a frontrunner for Investec Australia’s $3 billion loan book and professional finance division, after dropping out before the second round of the auction.

It’s understood Macquarie has joined heavy-hitters Westpac Banking Corp and National Australia Bank on the sideline.

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KKR looks to strengthen Asian property team

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Sarah Thompson, Anthony MacDonald and Gretchen Friemann

Private equity giant KKR & Co is seeking to bolster its Asian property business by hiring a dealmaker to work under regional real estate head Bryan Southergill.

KKR has approached local property advisers about joining the firm, which is making a worldwide push into real estate and credit.

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BT boss lays out priorities for 2014

Posted by Anton Murray Consulting on . Posted in Insights

Tim Stewart

BT Financial Group chief executive Brad Cooper has laid out his intention to increase the group’s advice revenue, strengthen its asset management capability and roll out a new wealth administration platform in 2014.

In a market update presentation delivered yesterday, Mr Cooper stressed that wealth management remains a “key priority” for Westpac – with BT generating 10 per cent of the banking group’s cash earnings.

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