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People: RBS strategic review alarms senior staff, say recruiters

RBS expected to refocus on core businesses and home markets - investment bank could shrink further; new faces at the SEC; Mahmud takes top forex post at Citi; client execution hires at UBS; Aviva Investors replaces Ikram

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Reports that Royal Bank of Scotland (RBS) is planning to cut thousands of jobs and further reduce its investment banking business have sparked alarm among even senior staff, recruiters say – with good reason. Shrinking headcount for investment banks means it can take longer to find new roles. 

The changes are part of a strategic review to be announced on February 27 – after Risk went to press – alongside RBS’s results for 2013. The review has been completed under new chief executive, Ross McEwan

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