RBS Puts Lux ManCo Business Up For Sale

The Royal Bank of Scotland is selling its Luxembourg-domiciled independent management company and fund governance business.

It has appointed PricewaterhouseCoopers Luxembourg (PwC) to advise on the sale.

An RBS spokesperson said: “In line with our strategy to make RBS a smaller, more focused bank, we have taken the decision to sell RBS (Luxembourg). The first phase of the sale process is well under way. We are currently working with PwC to select a limited number of potential buyers who are interested in continuing to grow and invest in the business, and are willing to commit to a timely and efficient sale process.”