Royal Bank of Scotland has announced it is in talks with an unnamed third party to sell its structured retail investor products and equity derivatives business.
The bank reported in June that it was looking to refocus its investment banking arm, RBS Markets, on fixed-income activities and withdraw from structured retail investment products and equity derivatives, as it announced the departure of then chief executive Stephen Hester.
According to FTAdviser sister title the Financial Times, said the bank will exit structured retail investor products, equity derivatives and what it called “peripheral market-making activities”, with as many as 2,000 jobs being placed at risk.
Although the bank revealed this morning that it is talks to sell that part of its business, it qualified the statement by adding that no deal has yet been struck and there is “no certainty that an agreement will be reached”.
