Rabobank has slashed jobs in its financial markets division in London because many of its operations were no longer viable, source told The Times.
The Dutch banking group will reorganize its London operation, keeping its corporate banking operations in the City. Some markets used by the bank had ceased to exist, according to The Times.
“We remain committed to our global financial markets business and to our presence in the City of London,” says Rutger Schellens, a member of the managing board of Rabobank International. “Were convinced that these changes are necessary to ensure the wellbeing of the London branch and its business in the years ahead.”