RBS said axing jobs as part of investment banking overhaul

Not unexpected.

Royal Bank of Scotland is eliminating about 100 jobs as part of an overhaul of its investment bank, according to two people with knowledge of the matter.

Bloomberg News reports that the bank promoted Scott Satriano, currently head of sales, to lead a reorganized unit of the lender’s corporate and institutional bank, combining areas such as derivatives, structuring technology, debt capital markets and risk advisory, said one of the people, who asked not to be identified because the details are private.

The departures include senior figures such as Richard Bartlett, head of U.K. client coverage, and Eric Capp, head of loan and high-yield capital markets, two of the people said.

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

RBS Said to Eliminate 100 Investment Banking Jobs in Revamp

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