Former bankers buy bankrupt banks

Former executives of a division of Royal Bank of Scotland Group PLC has invested $ 1.15 billion in private investment, supporting the financial institution.

Former bankers plan to join the bidding in an auction of the Federal Insurance Deposit Corp. and to obtain from Wall Street companies like Goldman Sachs Group Inc and Deutsche Bank AG, reported Wall Street Journal, citing familiar iztochnitsi.Sred veterans in the banking area, intending to bid for bankrupt financial institutions are – former CEO of JPMorgan Chase William Harrison & Co, former CEO of Wachovia Corp – Robert Steele and former president of Hibernia Corp. – Herb Boydsan month ago, former executives of Citizens Financial Group Inc – a division of Royal Bank of Scotland Group PLC, invested $ 1.15 billion in private investment, notes the publication.

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Finance