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RBS investment bank chief 'may leave in restructuring'

The chief executive of Royal Bank of Scotland's (RBS's) investment banking arm could be set to leave his post following a restructuring of the unit.

Sky News reports that John Hourican's departure will be facilitated thanks to a shake-up as preparations progress for the dividing up of the lender's markets and international banking arms into two parts.

Mr Hourican has been in his current role for four years, during which he has overseen many changes regarding the financier's investment bank, in addition to reducing the level of risk-weighted assets on the lender's balance sheet.

According to sources with knowledge on the matter, details on a settlement could be revealed in the coming days, although a statement on the issue is more likely to be made at the end of the month.

Should the proposed RBS split go ahead, heads of the two divisions will begin reporting to RBS's chief executive Stephen Hester.

By Tony Aynsley