Royal Bank of Scotland’s most senior American investment banker, Bob McKillip, is set to leave the bank as it completes a wind-down of unwanted U.S. operations, said a person with knowledge of the matter.
Bloomberg News reports that McKillip, RBS’s head of Americas and former chief of the region’s investment-banking operations, will leave early next year at the latest after more than a decade with the bank, said the person, who asked not to be identified because McKillip’s departure hasn’t been announced publicly.
CEO Ross McEwan, 58, has been shrinking the securities unit, eliminating thousands of jobs and cutting assets to focus on consumer and commercial lending in the U.K. and Ireland as he pushes to reverse seven straight annual losses. The loss at the corporate and institutional bank widened to $1.5bn in the third quarter from $858.7m a year earlier, RBS said on Friday.
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