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RBS to cut 2,000 jobs

The Royal Bank of Scotland plans to cut up to 2,000 jobs from its investment banking arm as it completes the integration ABN Amro, the FT reports.

RBS head of global banking and markets John Hourican told the paper a smaller, more focused business would deliver more stable profits.

He says: “The thing about the ABN Amro deal was it was a massive, bold undertaking at exactly the wrong moment.

“You could not have chosen the more perfect ill-timing for that transaction.”

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