RBS sounds global retreat leaving bank’s Asian future in the balance
RBS announced a slew of changes on Thursday as the struggling bank undergoes a large restructuring programme that will reduce it from a global lender to a more UK-focused operation. Despite the expected downsizing, those close to RBS are not expecting any major upheavals to its Asian operations just yet, write Rev Hui and Rashmi Kumar.
The restructuring, codenamed Project Cook, will see RBS move away from the current seven operating division structure to a three sector business model consisting of corporate and institutional banking, personal and business banking, and commercial and private banking.
Donald Workman, most recently the bank’s head of Asia, will
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