Another investment banking restructure ?
Royal Bank of Scotland on Thursday ruled out another shake-up of its investment bank and sources familiar with the matter said such strategic changes were unlikely until RBS appoints a new chief executive.
'We announced a restructure of our markets business in February. We are implementing that plan and the board is not considering plans for further restructuring', RBS said in a statement to Reuters.
The Financial Times had reported that senior executives were discussing dispensing with a standalone investment banking operation and integrating it with corporate banking.
Investment banking now accounts for about 20% of RBS's operating profit compared with 60% before the government pumped $69.9bn into the bank to rescue it in the 2008 financial crisis.
image: © Elliot Brown