BlackRock to advise on RBS assets

12th Jul 2013 12:47

BlackRock has been appointed by Britain's finance ministry to assess Royal Bank of Scotland (RBS) for the possible break-up of the state-backed lender into a good bank and bad bank.The risk management company will join investment bank Rothschild ROT.UL and lawyers Slaughter & May in providing specialist advice on RBS assets.It comes after Chancellor George Osborne said the government would examine whether to split the bank, sectioning off its remaining toxic loans into a so-called bad bank.Those who support the proposal argue that the good bank would be better placed to lend and help stimulate Britain's economy.Shares rose 2.76% to 312.40p at 13:04 on Friday.RD