Royal Bank of Scotland is to close its equity capital market and corporate finance units in South Korea, alongside its cash equities businesses in Indonesia, Korea and Singapore.
The decision to close some units comes after an agreement with Malaysia's second-biggest lender CIMB Group Holdings Bhd, which is not buying the units, according to an internal memo seen by Reuters and later confirmed by the bank.
A total of 70 persons will be affected by the moves.
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