Royal Bank of Scotland Group, Britain’s biggest government-owned lender and the owner of Ulster Bank, fell as much as 8.2 per cent as chief executive Stephen Hester stepped down and the company announced 2,000 investment-banking job cuts.
RBS will exit its equity derivatives and structured retail products businesses, Edinburgh-based RBS said in a statement today. Hester said yesterday he would step down after almost five years in the post, without naming a successor.
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