RBS said closing several business units

It's not known how many staff will be impacted.

Royal Bank of Scotland is closing most of its European debt restructuring business outside the U.K. as the firm winds down its global restructuring group, according to two people familiar with the matter.

Bloomberg News reports that RBS began shutting down units in Amsterdam, Madrid, Milan and Paris in September, said the people, who asked not to be identified because the plan is private.

James Abbott, a spokesman for RBS in London, declined to comment on the closures and the number of employees affected.

RBS is disbanding its restructuring operations as it disposes of unwanted assets and focuses on its U.K. business after receiving the world’s biggest bank bailout during the financial crisis. The global restructuring group came under the scrutiny of U.K. lawmakers last year after a government-commissioned report accused the bank of deliberately pushing viable companies into bankruptcy to boost profits.

To access the complete Bloomberg News article hit the link below:

RBS Said to Start Shutting Restructuring Businesses in Europe

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