💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UPDATE 1-RBS to merge Asia-Pacific investment bank units

Published 07/14/2009, 04:51 AM
Updated 07/14/2009, 04:56 AM
NWG
-

(Adds details)

HONG KONG, July 14 (Reuters) - Royal Bank of Scotland on Tuesday said it will merge its various Asia-Pacific investment banking teams into one group.

The move comes as the struggling bank, majority owned by the UK government, tries to sell off overseas assets and streamline others it plans to keep. RBS is selling its retail and commercial units in Asia, and keeping its investment bank.

The new investment banking group will be led by John Mullins, currently the Asia-Pacific head of corporate and financial institutions debt origination. He will report to John McCormick, Asia-Pacific CEO of Global Banking and Markets.

The official name is the Asia-Pacific Coverage & Origination Banking group, which includes, in part: mergers and acquisitions advisory; equity capital markets; debt markets; the financial institutions group; and corporate finance. (Reporting by Michael Flaherty; Editing by Chris Lewis)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.