LONDON –  U.S. investment bank Jefferies Group Inc. (JEF) is close to clinching a deal to buy Hoare Govett, the corporate brokerage business being sold by Royal Bank of Scotland Group PLC (RBS), a person familiar with the situation told Dow Jones Newswires Sunday.

The deal, which could come as early as Sunday, will involve Jefferies taking over just half of the 125 staff at Hoare Govett, the person added.

Reports have suggested that Jefferies is paying a nominal sum for the business.

Hoare Govett is just one of the elements of RBS investment banking business that it is seeking to sell as part of a drastic restructuring that will see the unit slash a further 3,500 staff.

The 83% government-owned bank is selling its cash equities, equity capital markets and brokerage businesses as it withdraws from riskier activities to refocus as a retail bank.

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