RBS slims down
Royal Bank of Scotland has slimmed down and restructured its project and structured finance operations. It has established a secured debt markets division, which includes products such as project finance and securitisation. The move resulted in some significant jobs cuts before Christmas – mainly on the infrastructure side, where half the large 25-strong project finance team left. The move was similar to the HSBC restructuring, where products lines have been combined and new coverage groups established combined with a reduction in the infrastructure team headcount.
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