As part of asset sales in its recovery plan, the Royal Bank of Scotland (RBS) reportedly plans to sell a stake in Citizens Financial Group through an IPO in two years. The New York Times reports RBS aims to boost capital levels and focus operations in a turnaround plan initiated by CEO Stephen Hester. Reports surfaced as early as last fall that RBS was under pressure from shareholders, including the U.K. government, to sell Citizens, which it acquired in 1988. At the time, TD Bank was viewed as…
RBS plans to spin off Citizens stake in 2015 IPO
