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)
Most Popular Slideshows
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
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
- iOS 8 Release Date Of Sept 17 Has Arrived: Update Begins At 10AM Pacific Time, Upgrade Your iDevices With iOS 7.1.2 First To Install iOS 8
- Pregnant Kate Middleton May Call Off Malta Trip Due To Sickness: Royal Couple Will Move To Anmer Hall Residence
- iPhone 6 Plus vs Xiaomi Mi4 – The iPhone Killer Certainly Can Battle Well With The New Apple Phablet
- Ukraine Crisis: Poland Denies Supplying Weapons To Kiev
- Google Nexus 8 Release Date Countdown Begins Oct 8: 8 Killer Specs and Features to Expect
- Malaysia Airlines Flight MF 370: Indonesian Police Chief Claims He Knows What Happened To Missing Jet
- HTC Desire 820 (Octa-Core) vs. Sony Xperia Z3 Compact – Specifications, Features, Release Date And Price Showdown