RBS quitting equities

RBS makes heavy cuts in Asia equities division

The bank has made major lay-offs in institutional and retail equity sales and structuring in the region, amid whispers it plans to shut its equities and corporate finance units globally.
RBS: Getting out of equities?
RBS: Getting out of equities?

Amid reports that the UK’s RBS will cut 4,000 staff in investment banking globally, the equities division in Asia is seeing deep cuts across Hong Kong, Japan and Singapore, including a raft of institutional salespeople and structurers.

Most of the dismissals took place close to the end of last year. But some were more recent Lalita Raman, director of equity derivatives hedge fund sales in Hong Kong, exited earlier this month, having been with RBS since 2009.

Other departures in Hong Kong include Terry Tsang, director of equity derivatives and structured retail sales who covered warrants and equity-linked investments, and Angus Hui, a warrants marketer....

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