RBS to split investment banking arm
Royal Bank of Scotland is reportedly planning to break up its investment banking arm as it prepares to be hit with an expected £500 million in fines for its part in the Libor scandal.
It is understood the taxpayer-backed lender is poised to announce a shake-up that will see its markets business split from its international banking division and pave the way for investment banking boss John Hourican to leave.
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