View more on these topics

RBS exits retail structured product market


Royal Bank of Scotland has announced it is pulling out of the retail structured products market.

The move comes as part of steps made by the bank to reduce the balance sheet of its markets business by the end of 2014, as announced in its 2012 full year results.

The bank also plans to halt its equity derivatives and peripheral market-making activities as part of the changes to the markets business.

The news arrives shortly after the bank announced plans to cut approximately 2,000 jobs by 2014.

The bank says the businesses that it plans to exit will be moved to a run-off organisation managed within the RBS markets division, where they will then go through a process of restructuring, asset sales and, where possible, business sales.

RBS also says that in all instances it will remain committed to delivering on its existing obligations to customers.

The end of last year saw RBS structured products managing directors Zak de Mariveles and David Lake leave the team.

As part of the bank’s realigned strategy for its markets division, it now plans to focus on its core fixed income product strengths across rates, currencies, asset backed products and credit and debt capital markets.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm