RBS changes

Another shake-up at RBS

Royal Bank of Scotland makes cuts in its Asian equity derivatives business, and restructures its investment product sales and trading operations.

Several redundancies have been made by Royal Bank of Scotland RBS in its equity derivatives and fixed-income, currency and commodities FICC divisions across Asia during the past few days. Internal memos have revealed the extent of the cut-backs, which are aligned to the UK bank’s new strategic focus that was announced at the beginning of this year.

RBS said in a statement on January 12 that its priority was to focus on its core strengths. In particular, it decided to exit its cash equities and corporate finance businesses worldwide, which has led to cut-backs in related operations.

The move was made “in light of the...

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