RBS Cutting 2000 Jobs, As CEO Announces Departure

LONDON (Reuters) – Royal Bank of Scotlandsaid on Thursday it would cut jobs in a restructuring of its investment bank, which a source familiar with the matter said would see about 2,000 jobs go.

The part-nationalized British lender said it would focus its markets division on its core fixed income products and would exit all structured retail investor products and equity derivatives.

RBS said on Thursday its chief executive Stephen Hester would leave the bank by the end of the year.

(Reporting by Matt Scuffham; Editing by Steve Slater)

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