2013-06-13 — sfgate.com
Royal Bank of Scotland Group Plc, Britain's biggest government-owned lender, will cut about 2,000 jobs as part of an overhaul of its investment banking unit, said a person briefed on the decision. The stock fell.
RBS will exit its equity derivatives and structured retail products businesses, the Edinburgh-based bank said in a statement today. The cuts come a day after Chief Executive Officer Stephen Hester announced he would step down as the U.K. Treasury prepares to return RBS to private ownership by the end of 2014.
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