Reuters: Financial Services and Real Estate: RBS M&A bankers plan boutique spin-off - executive

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RBS M&A bankers plan boutique spin-off - executive Apr 30th 2012, 06:40 DUBAI, April 30 | Mon Apr 30, 2012 2:40am EDT DUBAI, April 30 (Reuters) - Royal Bank of Scotland's mergers and acquisitions (M&A) business will be spun off into a boutique advisory firm run by some of its current staff, the bank's chief executive for the Middle East and Africa told reporters on Monday. "The M&A bankers plan to form a boutique business," Simon Penney said in Dubai. "It's not clear as to which regions would join in but that's the plan," he added. The bank, 82-percent owned by the British government, is exiting mergers and acquisitions as part of a restructuring announced in January.

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