Hoare Govett management eyes escape from RBS, rumour
Royal Bank of Scotland may have found a buyer for its UK corporate brokerage, Hoare Govett; Hoare Govett's own management.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
RBS shares are down 2.75% this morning as fears continue over the solvency of the European banking system.
BS
-
Meta’s AI splurge rattles investors
Meta's decision to join the AI race is driving investors away
By Dr Matthew Partridge Published
-
Is it a good time to invest in the UK?
Temple Bar Investment Trust is a diversified bet on British equities and looks excellent value, says Max King
By Max King Published