Royal Bank of Scotland to slash investment bank, rebrand as NatWest

VCCircle | Feb 14, 2020 at 3:50 PM
  • Royal Bank of Scotland’s new Chief Executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest.
  • Rose’s strategy includes plans to halve investment bank NatWest Markets’ risk weighted assets to 20 billion pounds ($26.10 billion).
  • The lender reported pre-tax profits of 4.2 billion pounds for 2019, 24% higher than 2018 and above analyst expectations.