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RBS director stocks up
Mon, 21 May, 2012
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RBS director stocks up
Tue, 10 Jan 2012, 16:48:00
Chris Sullivan, Chief Executive of RBS UK corporate, has purchased 603 shares in the firm in the same week it emerges the firm may be about to cut 4,000 jobs. 
 
 Sullivan, 53, bought the shares at £0.2075 each, in a purchase which takes his total number of shares to 244,010. 
 
 <b>RBS</b>, the 83% state-owned lender, is reported to be on the verge of shedding between 3,000 and 4,000 jobs. 
 
 The firm has come under increasing pressure from the coalition government to reduce its riskier investment banking activities in its Global Banking and Markets (GBM) division. 
 
 GBM earnings had been helping repair the RBS balance sheet in the wake of the 2008 financial crisis, but volatility caused by fears over Eurozone sovereign debt have seen profits drop by up to 80%. 
 
 An RBS spokesperson said: "We cannot make any comment until the announcement is made." 
 
 Earlier this week UBS cut its target price from 28p to 25p. 
 
 
 <b>Top Director Buys</b>
 
 Cadogan Petroleum (CAD) 
 Director name: Mr Ian Baron
 Amount purchased: 100,000 @ 24.59p 
 Value: £24,590
 
 Angel Biotechnology Holdings (ABH) 
 Director name: Dr Paul B Harper
 Amount purchased: 10,000,000 @ 0.20p 
 Value: £20,000
 
 Matchtech Group (MTEC) 
 Director name: Mr Adrian Gunn
 Amount purchased: 8,799 @ 210.00p 
 Value: £18,478
 
 Matchtech Group (MTEC) 
 Director name: Mr Tony Dyer
 Amount purchased: 5,875 @ 210.00p 
 Value: £12,338
 
 
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