RBS to close two units
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.
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.
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
AB
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.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”