Government v. Gearheads; With Chief Ousted, Morale Expected to Deter...

Receiving Wide Coverage ...

Fallout from RBS's Hester Ousting: The Royal Bank of Scotland's firing of its chief executive, Stephen Hester, will send bank staff morale "to rock bottom," the Financial Times reports, and more defections are expected. In a related note, RBS announced Thursday it would wind down its remaining equities sales and trading businesses and will cease to offer structured retail investor products and equity derivatives; this is expected to lead to 2,000 job...