RBS Says Market Strategist Janjuah, Chief Markets Economist Gaynor Leave
Royal Bank of Scotland Group Plc said Chief Markets Strategist Bob Janjuah and Chief Markets Economist Kevin Gaynor have left the bank.
RBS will continue to provide research with its team of strategists based in London, the Asia Pacific region and the U.S., the Edinburgh-based bank said today in a statement. Global economic research will be led by Chief European Economist Jacques Cailloux.
“We have a strong research franchise that we will continue to grow,” said RBS in the statement.
In May, the government-owned bank’s Chief Executive Officer Stephen Hester said that 2010 will be the final year during which it suffers a “damaging” loss of employees. RBS received a 45.5 billion-pound ($69 billion) government bailout after it posted a record loss in 2008.
Janjuah declined to comment, while Gaynor wasn’t immediately available to comment. Janjuah previously held roles at ABN Amro Holding NV and Bear Stearns Cos. before joining RBS. Gaynor joined RBS in 2005 from UBS AG, where he was head of European equity strategy.
RBS declined 2.8 percent to 38.96 pence in London, valuing the bank at 22.6 billion pounds.
To contact the reporter responsible for this story: Jon Menon at jmenon1@bloomberg.net
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