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5corpio started a blog post Breaking NEWS: Hester to step down from Royal Bank of Scotland roleBreaking NEWS: Hester to step down from Royal Bank of Scotland role
Stephen Hester is to step down from his role as chief executive of Royal Bank of Scotland later this year. Mr Hester has been in the role since November 2008 and the search for his successor will start straight away. In a statement RBS said: "The board believes an orderly succession process will give a new CEO time to prepare for the privatisation process and to lead the bank in the years that follow.....Update: BBC News - Hester to step down from Royal Bank of Scotland roleYou must be logged in to post a comment.
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Royal Bank of Scotland (RBS) will on Thursday cut up to 2,000 jobs in its investment bank, the day after its chief executive stunned the City by announcing his departure. I have learnt that the taxpayer-backed lender will inform staff in its markets division that the roles will be axed as part of its ongoing restructuring, taking to nearly 40,000 the number of jobs that RBS has slashed since it was bailed out by taxpayers. Details of the job cuts were still being finalised on Wednesday night and the exact number of redundancies could yet vary. A decision to axe 2,000 jobs in its investment banking arm would reduce the division's headcount by just under 20%, broadly in line with the shrinkage in the risk-weighted assets which it holds.....Read more here