Like Bank of America, RBS has some big goals for the coming year, chief among them being the firing of several thousand investment bankers. (For those skeptical they can do it, according to a PowerPoint presentation presented yesterday, re: the “exits,” quite a bit of progress has already been made.)
Royal Bank of Scotland, Britain’s biggest government-owned lender, said it will cut 300 more jobs at its investment banking unit and is “on track” with its plan to exit businesses. RBS will eliminate 3,800 jobs at the division by the fourth quarter of next year, compared with an earlier target of 3,500, according to slides based on a presentation delivered by John Hourican, chief of markets and international banking, to analysts Monday. About 3,000 of the cuts will have completed this year, RBS said…The bank’s control of costs is “ongoing,” said Chris Kyle, chief financial officer of markets and international banking, at the presentation. “We will almost certainly hit this year’s number” in terms of the guidance, he said.
Royal Bank Of Scotland Cuts 300 More Jobs At Investment Bank [Bloomberg]
RBS Markets Investor Roundtable [RBS]
Less competition for us!
Still impressed the government owns a majority of RBS.
Umm not really.
Thanks Bess. Really helping keep me optimistic haha (although these posts remind me not to act like an entitled deuschbag elitist bitch and keep on the grind!)
"If you’re thinking about taking the next step in your career, then The Royal Bank of Scotland could be the place for you. With a global presence, the RBS group includes many market-leading customer and financial brands. The breadth of opportunities that RBS offers is vast; you might be surprised to find just where we can take you! "
http://www.jobs.rbs.com/global
the financicide continues.. its like the first hour of war of the worlds…
Why is John Thain haunting my dreams? I see his countenance everywhere.
Still unimpressed with your self-promotion.
was that movie pre or post Tom Cruisicide?
Why does RBS feel the need to have an investment banking unit anyway?
John Thain wearing Bonobos? Yikes, that IS a nightmare!
Examine your… sexuality.
Turgid
MS…seriously?
"Continuing to face strong market and regulatory headwinds."
More like Hourican-strength winds.
Is Evercore the official porn provider for the SEC?
Scotland?
THAT'S NOT COUNTENANCE! EWWWWWW
If they deport me to Scotland for running brothel out of my Manhattan aprtment, I would definitelty consider a job at RBS.
http://www.mycentraljersey.com/viewart/20120925/N…
NYC Mama-sun
Definitely not them
- Jefferies IB
Buying this turkey at the taxpayer's expense was the biggest error the UK government made during the financial crisis. It's now worthless as no-one sane is giving them any business and everyone competent has left. Keep the commercial banking and just shut down the investment bank asap. It's dead in the water.
No not seriously i put it there for your amusement.
RBS has 300 investment bankers ?!!!
But yeah Many thanks for taking the time to chat about this, I consider strongly about it and in actuality like learning more on this topic. If possible, as you gain expertise, would you mind updating your website with more information? It is extremely helpful for me.