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