All articles by Andy Cook

RBS Wealth Management cuts IT jobs by third

RBS Wealth Management has claimed that it will have been able to cut back office staff by 30% following the implementation of a new IT system across its UK businesses. RBS Wealth Management chief administration officer Juergen Pulm said that the implementation of the Avaloq IT system, which is due to finish in October 2011, will replace a legacy system spanning multiple investment, accountancy tasks and payments systems He said that as well as allowing RBS to cut back office headcount by 30%, the new system rapidly increases the time to market for new products.