People: Citi and RBS to cut 5,700 in investment banking

Citi and RBS to cut 5,700 in investment banking

ralph-segreti
Ralph Segreti

Citi and Royal Bank of Scotland (RBS) have announced plans to cut a combined 5,700 jobs in their respective investment banking divisions.

RBS will cut 3,800 jobs from its markets and international banking division, an increase from the planned cut of 3,500 that was made public in January 2012. The bank has already lost 34,000 staff since it became majority owned by the UK government in 2008, and is still struggling to divest itself of unprofitable business lines.

David Lake, head of UK sales for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here