RBS To Slash 14,000 Investment Banking Jobs: FT

Royal Bank of Scotland is accelerating its plans to dismantle its investment banking franchise, with expectations that the firm will deliver as many as 14,000 pink slips in the group at the sprawling U.K. financial institution, according to the Financial Times report Tuesday. As RBS mounts a steady retreat from one of the areas that rocked it during the heart of the 2008 financial crisis, the FT reports that the firm could cut as many as 80% of its investment banking team by 2019. The cuts aren't a shocker. Earlier in the week, the bank said it planned on dismantling its global investment banking operations and exiting some 25 or more regions