RBS Arm Hoare Govett Wins Landmark Broking Client - FT

20th Jul 2010 01:16

DOW JONES NEWSWIRES Royal Bank of Scotland Group. (RBS) corporate broking arm Hoare Govett has won a major corporate broking mandate for the first time since RBS bought it from ABN Amro three years ago, the Financial Times newspaper reported Monday on its website, citing unnamed people close to the process. The people said Hoare Govett has won a co-broker mandate at Cable & Wireless Worldwide PLC (CW.LN), the report said, adding that the other co-broker is Deutsche Bank AG (DB). "This is a significant event for RBS, being the first FTSE?100 new client win since RBS acquired ABN Amro/Hoare Govett," the report quoted an internal memo as saying. "It demonstrates the major investment made in the bank's equities franchise and the growing momentum of the business." (END) Dow Jones Newswires July 19, 2010 20:16 ET (00:16 GMT)