A third of the staff of the Singapore office of RBS Coutts, a
private bank that is part of the Royal Bank of Scotland Group, have
quit in a mass resignation.
The bank confirmed a story in the Financial Times that 20 key
managers resigned along with around 50 support staff in a move the
newspaper said could be related to bonus prospects.
RBS was rescued by the British government last year and its bonus
payments to staff have been under careful scrutiny.
An RBS spokesman said the resignations represented less than 15
percent of the regional headcount.
He declined to comment on the reason for the resignations.
--938Live