Royal Bank of Scotland is considering replacing its corporate brokers Morgan Stanley and UBS before a share sale by the U.K. government, according to two people with knowledge of the situation.
Bloomberg News reports that the lender is asking investment banks to bid for the advisory position, said the people, who asked not to be identified because the matter is private.
The offer comes as Chancellor George Osborne considers selling shares in the bank, possibly at a discount to the bailout.
Barclays is also considering replacing its corporate brokers Credit Suisse and Deutsche Bank as new Chairman John McFarlane starts to review the lender, according to a person with knowledge of the matter.
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