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Libor scandal: RBS executives under pressure to resign

Libor scandal: RBS executives under pressure to resign

The pressure comes as RBS is closing in on a settlement with US and UK regulators that is likely to see the state-backed bank fined at least £300m.

John Hourican, head of RBS’s investment bank, and Peter Nielson, head of markets, are understood to be “under pressure” to step down.

Sources suggested Mr Hourican and Mr Nielson were “stunned” and “let down” by the developments, described by one insider as “political convenience for the relentless baying of blood from regulators”.

The two bankers have together earned in excess of £30m in the past four years and were yesterday working as usual in RBS’s London offices. Neither had been asked to offer their resignation.

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