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RBS Moving away from “Big Global Bank” Label

 (Image source: telegraph.co.uk)

In an effort to restructure, the Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) according to Reuters will eliminate a host of investment banking activities and focus on core banking functions. Over the next three years, at least 30,000 employees will be terminated as a result of the exit from investment banking. Going forward, the partly nationalized bank will focus their banking operations on retail customers, small businesses, and large corporations. It no longer wants to be big global bank. RBS just wants to be a good British bank. When you’re nationalized, it’s better to be local, less scrutiny from politicians.