LONDON (Reuters) - Part-nationalized Royal Bank of Scotland is to cut about 3,500 jobs as it sells and shrinks parts of its investment bank over a three-year plan to further reduce risk.
RBS, 83 percent owned by the UK government, Thursday said it will exit from cash equities, corporate broking, equity capital markets and mergers and acquisitions businesses.
It aims to cut the balance sheet of its former global banking and markets business by 120 billion pounds ($184 billion) to 300 billion in the next three years under the plan.
($1 = 0.6513 British pounds)
(Reporting by Steve Slater; Editing by David Holmes)
