- 4 updates
It is understood the sacked men are traders Paul White and Neil Danziger, investment adviser Andrew Hamilton and Tan Chi Min, who used to work for RBS in Singapore.
The Royal Bank of Scotland did sack around 10 traders but it is thought to have happened last year, so the sacking is not a response to latest allegations. I understand that RBS actually sacked 4 traders for Libor-fixing, although up to 10 traders are mentioned in court papers.
Former Royal Bank of Scotland chairman Sir George Matthewson told the BBC today that the sacking of four RBS traders was the "correct response" but that it also raised many questions. Mr Matthewson said:
Royal Bank of Scotland sacked four of its traders at the end of last year over their alleged role in the Libor-fixing scandal, sources said. Two of the traders were removed from their posts in October and a third the following month. RBS has not commented on the sackings.
The revelation comes after the bank confirmed it is being investigated for manipulating the rates at which banks lend to each other.