LONDON ( The Deal) -- Royal Bank of Scotland's (RBS - Get Report) newly installed CEO Ross McEwan Friday, Nov. 1, put his own -- albeit government-brokered -- mark on the institution's long-running restructuring, accelerating the divestment of RBS Citizens Financial Group, putting toxic assets into an internal "bad bank" and announcing a new review to shave costs.McEwan announced the reorganization at the 81% state-owned bank after the U.K. government decided following a review led by Rothschild and BlackRock that hiving off Royal Bank of Scotland's risky assets into an external "bad bank" wasn't worth the effort or the risk.
The Deal: RBS Confirms Creation of Internal 'Bad Bank'
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