RBS equities arm begins wind–down

Royal Bank of Scotland has begun to wind down some parts of its equities operations as part of a broader cut-back of its investment banking division.

It said: “Following our announcement on 12 January about the restructuring of our wholesale banking division, steps have been initiated to wind down certain parts of the EMEA Equity Capital Markets and cash equities businesses, and certain associated activities.

“This will affect about 200 to 300 employees, mostly in London”. Last month, RBS said it would cut thousands of jobs as part of its retreat from investment banking.