RBS Exiting Corporate Debt, DCM Business in Middle East - Bloomberg Business

RBS Exiting Corporate Debt, DCM Business in Middle East - Bloomberg Business:



"Royal Bank of Scotland Group Plc, the U.K.’s largest taxpayer-owned lender, is exiting its corporate loans and debt capital markets business in the Middle East and Africa.



The move is part of Chief Executive Officer Ross McEwan’s decision last February to make RBS a smaller, more focused bank, an RBS spokeswoman said in an e-mailed response to questions from Bloomberg News, without giving more information.



McEwan, 57, has been cutting back investment-banking operations and focusing on domestic customers to reverse six straight years of losses. Jacco Keijzer, RBS’s head of debt capital markets for the Middle East and Africa based in Dubai, left the lender earlier this month, the spokeswoman said."



'via Blog this'