RBS execs focused on its "cardiac arrest", not Libor
February 12, 2013 3:21 AM EST
Royal Bank of Scotland's
"When we took control of the bank it had had a cardiac arrest. We had to priorities dealing with the existential threat to the bank," John Hourican, who is leaving the bank following the scandal, told the Parliamentary Commission on Banking Standards on Monday.
Peter Nielsen, head of RBS's markets division, said the bank is unlikely to have made money out of any manipulation by its traders. He also said he had discussed resigning with Hourican in the wake of the affair but decided to stay on. Hourican said he had told Chief Executive Stephen Hester that Nielsen should stay.
(Reporting by Matt Scuffham; Editing by Steve Slater)
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Russia Is Ready for Shooting War, Will Likely Win Looming Nuclear Showdown with U.S. – Report
- Microsoft Band Runs Out Of Stock, But Offers $10 Gift Voucher To Wait-Listed Customers
- Black Friday And Cyber Monday Sale 2014: AT&T's Cricket Wireless Offers Discounts On Lumia 1320, Galaxy S5, S4 And HTC Desire 510
- ISIS Kidnaps Iraqi Defence Minister’s Family, Executes Female Parliament Candidates
- Google Joins Forces with GoPro Inc with New Google Maps Focusing on Destination
- Target Early Black Friday 2014 Sale Ad Released For Nov. 26, 2014 Includes Deals On Toys, HDTVs And Video Games Such As ‘FIFA 15’ And ‘NHL 15’ For Xbox 360 [WATCH VIDEO]
- 16GB iPhone 6 for $99 at Sam’s Club is the Best 2014 Black Friday Deal Around