Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a661142

RBS eyes £30bn cuts to investment business

by Daniel Grote on Feb 25, 2013 at 08:11

RBS eyes £30bn cuts to investment business

Royal Bank of Scotland (RBS) is planning to reduce the size of its investment bank by up to £30 billion and cut hundreds more jobs, according to The Sunday Telegraph.

Through asset sales it is expected to reduce the size of the investment bank’s balance sheet by between £20 billion and £30 billion, or up to 10% of its total assets, according to the paper.

It said RBS would also transfer billions of pounds of capital support from the division to other areas of its business such as UK retail and commercial banking.

Job cuts are expected to be made in the investment bank’s administration and IT support division.

RBS has already cut its investment banking balance sheet from £500 billion in 2008 to £300 billion, and axed 5,000 jobs, bringing total staff numbers in the division to around 11,000.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • Royal Bank of Scotland Group PLC (RBS.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

What others are saying

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

GAM unveils ‘tactical’ multi-asset fund

by Robert St George on Apr 24, 2014 at 14:33

Sorry, this link is not
quite ready yet