RBS Takes Steps to Appease U.K.
LONDON—Royal Bank of Scotland Group PLC on Thursday said it would float part of its U.S. retail business and retreat further from investment banking in an effort to appease its biggest shareholder, the British government.
The 81%-state-owned bank unveiled a series of moves to ease government and regulatory pressure on the bank to become more U.K. focused and better capitalized. Chief Executive Stephen Hester confirmed that it would list around 25% of the U.S.-based RBS Citizens bank in the next two years "to highlight the valuable nature of the business." RBS also said it would further pare back its investment ...
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RBS Takes Steps to Appease U.K.
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