``Hester is extending cuts he made when he reviewed the bank's operations in 2009 after he took over from Goodwin, 53. Since that time he has cut the bank's assets by about 1 trillion pounds ($1.54 trillion). He retreated from some markets in Asia, running off loans and selling units including the European division of commodities-trading business RBS Sempra, which JPMorgan Chase & Co. bought for $1.7 billion. At the same time he expanded the bank's equities and advisory business on the continent.''

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