Author: By Simon Evans
In a note to staff, Royal Bank of Scotlan’s global equities chief Frank McKirgan said that Baptista was leaving to pursue “other opportunities”. The departure has prompted a reshuffle among senior staff at RBS’s equities operation.
“The new structure gives us the right platform from which we can deliver our ambition to build a £2bn equities business by 2013,” said Mr McKirgan.
“In the past six months, the loss rate of our best-performing people has doubled,” said Mr Hester. “It is damaging. We need to make sure it does not get destructive.”
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