Malaysian group to retain most of RBS Australia staff

The Malaysian-based owner of the RBS investment banking franchise in Australia is expected to retain a huge portion of about 140 locally based staff in the business.

A memorandum of understanding has been signed between CIMB and Royal Bank of Scotland to finalise terms to acquire the British bank's investment-banking platform in Asia.

The transaction, if it proceeds, will cover cash equities, equity capital markets, investment advice and corporate finance, including the Australian business.

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