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Pimco suffers worst year for client withdrawals

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Pacific Investment Management Co.’s biggest mutual fund had the worst year of client withdrawals in the history of fund management as the firm lost both of its co-chief investment officers, Bill Grossand Mohamed El-Erian.



RBS branch window

FT - RBS still has work to do

Hundreds of job cuts, more branch closures and a move to offload millions of pounds of pension expenses to employees are among the latest attempts by Royal Bank of Scotland to slash costs.