An opportunity has been missed. The sale of Royal Bank of Scotland's (RBS) structured products book marked the fall of one of the last pillars left at the once gregarious and asset-gathering bank. Structured products had survived previous demolitions at RBS that had seen the back of a once-proud equities operation that was part created and part inherited with the full-scale adoption of ABN Amro. But it was not to be.
The sale of the £172 billion notional portfolio of mainly European and especial