| November 20, 2009 | Posted By: Sarah Butcher | Category: Recruiters |
RBS wants to recruit. According to today’s Financial News, it’s, “Probably one of the most aggressive hirers in the market at the moment.”
This may be so, but given speculation about the future of RBS’s investment banking business, enthusiasm for joining the bank is likely to be muted.
RBS stock is down nearly 6% today on the news that it will probably be obliged to sell Citizens, Churchill, Green Flag, Direct Line, more than 312 RBS branches in England, and Global Merchant Acquiring (card payments processing).
More to the point though, is what’s happening to its investment banking business.
Late on Friday, the Telegraph reported a Treasury spokesperson as saying:
The taxpayer cannot be expected to be on the hook for exotic instruments and overseas deals that did much to bring the bank [RBS] down.
The paper concluded that ‘risky’ investment banking activities such as debt syndication may be “shut down.”
Both Bloomberg and The Times knock further nails into the coffin with the claim the sale of parts of the RBS investment banking business is on the cards.
However, one RBS insider assures us this is “rubbish,” and that, “There’s a lot of stuff knocking around which isn’t true.” Any slimming down of RBS’s investment banking operations will be simple and not “particularly wide ranging” he says soothingly.
RBS is due to announce its results on Friday and a firmer statement about its future is expected to be made in the coming days.
In the meantime, headhunters working for the bank insist a surprising number of people are willing to contemplate moving there: “You’d be surprised. It’s tricky to persuade people, but not impossible,” says one.
Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.
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