RBS investment banking unit said to be drawing rivals’ interest

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Royal Bank of Scotland has drawn interest in its structured retail products and equity derivatives business from rivals, said people with knowledge of the matter.

Bloomberg News reports that BNP Paribas, Commerzbank and Societe Generale are considering bids for some or all of the business, said the people, who asked not to be identified because the process is private.

Credit Suisse and JPMorgan Chase may also look at parts of it, two of the people said.

With the sale, RBS becomes the third European bank to close its structured products business for retail investors since March, citing high capital costs and expenses for the securities.

RBS has about 50,000 structured products outstanding such as certificates tied to commodities, currencies, equities, interest rates and proprietary indexes, according to its website.

Hit the link below to access the complete Bloomberg article:

RBS Equity Derivatives Unit Said to Draw Rivals’ Interest

Goldman Sachs Given Two-Year Phase-Out for Some Swaps Trades

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