RBS plans to hire advisers for Asset Management

Royal Bank of Scotland (LON:RBS) are said to be hiring advisers to help offload RBS Asset Management, this is the bank’s fund unit that invests on behalf of clients of its private banking subsidiary, Coutts.

The Sunday Telegraph

has reported that RBS executives have been in discussions with Morgan Stanley NYSE:MS), over a possibility of purchasing the division, which has assets of more than $50bn (€37.2bn). It is estimated to be worth £500m (€562.8m).

Both the FSA and RBS have not made any comment on these rumors, so we will just have to wait and say how these events will unfold.