Australian syndicate, DCM and securitisation unaffected by RBS shakeup

The reorganisation of Royal Bank of Scotland (RBS)'s fixed income, currencies and commodities (FICC) business that will see much of the bank's FICC trading operation in Sydney either closed or relocated will not affect the local origination and syndicate business, a bank source says. RBS Australia will continue to have a Sydney-based presence in debt capital markets and securitisation origination and is maintaining its local syndicate.