Layoffs at RBS herald tough times for CDO bankers
Royal Bank of Scotland has laid off a quarter of its New York collateralised debt obligation team, following the departure of Rick Caplan, the bank's co-head of CDOs, earlier this month, in what could be the first of a wave of cuts in the structured products market.
Six out of 24 members of the CDO team have left the bank. RBS says the cuts are "to bring [the CDO team] into line with the realities
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