Royal Bank of Scotland Group Plc, Britain’s largest government-controlled bank, named Richard Tynan as head of syndicate for Europe, the Middle East and Africa to replace Myles Clarke.
Tynan will report to Richard Bartlett, head of corporate debt capital markets and risk solutions, Edinburgh-based RBS said today in an statement. Clarke was named chief operating officer of the lender’s markets client board, which was formed to help with marketing and governance in June.
RBS said in February it would further shrink its investment bank, exiting its equity derivatives and structured retail products businesses, amid pressure from the government and regulators to bolster capital. The bank said last year it would cut about 3,800 jobs at the investment bank, and sell or close its unprofitable cash equities, mergers advisory and equity-capital markets divisions.
-- Editors: Jon Menon, Steve Bailey