RBS signs MOU with CIMB to sell part of Asia-Pacific business

After six weeks of trying to find a buyer for parts of its Asia-Pacific business, Royal Bank of Scotland yesterday signed a memorandum of understanding with Malaysia’s CIMB Group. The aim is to finalise a sale and purchase agreement during the next few weeks that will cover the cash equities, equity capital markets, M&A and corporate finance divisions in Asia-Pacific, including Australia, a source said.