RBS China chairman Lawrence Lam to retire

Lawrence Lam, chairman of global banking and markets for Greater China at Royal Bank of Scotland, plans to retire next year, EuroWeekAsia revealed earlier this week. Lam has been in the job for five years and helped RBS set-up its own securities joint venture in China last year, with local securities firm Guolian Securities. But he plans to step down from the job in 2012 and is understood to be retiring.