The Royal Bank of Scotland Group plans to put about $540 billion worth of unwanted assets on the chopping block, vastly scaling back its presence abroad, reports said yesterday.
The Sunday Telegraph said RBS would divest itself of assets, such as the Asian and Australian units it acquired through the purchase of ABN Amro, over the next five years. Some mortgages and lending assets held by the Charter One bank in the U.S. were also slated for sale.
The Sunday Times said the restructuring would eventually lead to the loss of 20,000 jobs.
