Citizens owner considers asset sales
8:24 AM Fri, Feb 20, 2009 | Permalink
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Royal Bank of Scotland Group, the owner of Providence-based Citizens Financial Group, has hired Morgan Stanley to help sell some of its overseas assets. The Royal Bank, the biggest government-controlled bank in the United Kingdom, is considering plans to sell all or part of its Australian division along with other assets in Asia. One potential buyer is the Commonwealth Bank of Australia, Bloomberg News reported. The Royal Bank, based in Edinburgh, Scotland, aborted an earlier attempt to sell its ABN Amro investment banking and corporate finance units in Australia after Sydney-based Commonwealth Bank abandoned negotiations in August, citing turmoil in the financial markets. 
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