RBS shake-up could put 18,900 jobs at risk

Royal Bank of Scotland could shut down more than half of its Global Banking and Markets (GBM) division in an operation that may offload stockbroking business Hoare Govett before a complete closure of its equity business.

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Royal Bank of Scotland could shut down more than half of its Global Banking and Markets (GBM) division in an operation that may offload stockbroking business Hoare Govett before a complete closure of its equity business.

The Telegraph reports that it may hold on to foreign exchange trading and swaps.

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The restructure could cut GBM's balance sheet from €450bn to €200bn.

By 10:55 in London, RBS shares were trading flat at 20.002p.

S.C.

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