RBS rules out shake-up of investment bank

Royal Bank of Scotland has ruled out another shake-up of its investment bank and sources familiar with the matter said such strategic changes were unlikely until RBS appoints a new chief executive.

“We announced a restructure of our markets business in February. We are implementing that plan and the board is not considering plans for further restructuring,” RBS said in a statement to Reuters.

The Financial Times had reported that senior executives were discussing dispensing with a standalone investment banking operation and integrating it with corporate banking.