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Royal Bank of Scotland may have found a buyer for its UK corporate brokerage, Hoare Govett; Hoare Govett's own management.
Bloomberg is reporting that a management buyout, aided by Oriel Securities, could see the 90 year old company break free of its 83% state owned parent.
RBS is known to be keen to get rid of most of its investment banking activities as it seeks to carve out a new niche for itself, far removed from the heady days of expansion before the horrors of 2008.
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RBS shares are down 2.75% this morning as fears continue over the solvency of the European banking system.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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How a ‘great view’ from your home can boost its value by 35%A house that comes with a picturesque backdrop could add tens of thousands of pounds to its asking price – but how does each region compare?
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What is a care fees annuity and how much does it cost?How we will be cared for in our later years – and how much we are willing to pay for it – are conversations best had as early as possible. One option to cover the cost is a care fees annuity. We look at the pros and cons.
