Deals
RBS in Talks for Management Buyout of Indian Private Banking Arm
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Royal Bank of Scotland Group Plc is in talks for a management buyout of its Indian private banking operations.
The Edinburgh-based lender has signed a non-binding framework agreement and is in discussions to sell the business to Sanctum Wealth Management, it said in an e-mailed statement to Bloomberg on Monday. Sanctum is led by Shiv Gupta, an RBS managing director and head of its private wealth business in the country, according to the statement.