RBS merges Asia-Pacific teams

Royal Bank of Scotland is to combine its Asia-Pacific investment banking teams ahead of a likely sale of its Asian operations to Australia’s ANZ, Standard Chartered or HSBC. The bank will merge its advisory, wholesale banking and risk management operations in a move it said would help it better serve clients in the region. The new team, known as the Asia Pacific Coverage and Origination Banking Group, will be headed by John Mullins, previously the Asia-Pacific head of corporate and financial institutions debt origination at the bank.