Business.scotsman.com, 14 Oct 2009
CAPS on bonuses have been blamed for a mass exodus of staff from the international arm of Royal Bank of Scotland.
More than 70 people have quit RBS Coutts' office in Singapore, accounting for more than one in four of its workforce there.
The departures follow plans by the bank to introduce curbs on bonuses along similar lines to new restrictions in the UK. Some 20 managers and 50 support staff have left, and the speculation is that they defected to rivals, as competition for staff intensifies.
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