Ulster Bank’s Lombard to be told it is ‘non-core’ by RBS

Staff at Ulster Bank’s Lombard asset finance business will be told tomorrow that the business has been deemed to be ‘non-core’, following a review by the group’s parent company in Britain.

6th June, 2009

Staff at Ulster Bank’s Lombard asset finance business will be told tomorrow that the business has been deemed to be ‘non-core’, following a review by the group’s parent company in Britain.

However, the staff will not be told what the implications of the move are, and it is understood that a final decision has yet to be made by executives in its parent, Royal Bank of Scotland (RBS).

Lombard...

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