UBS to manage RBS branch sale

The Sunday Telegraph reports RBS chief executive Stephen Hester has asked UBS to assess a number of options as to what to do with the branches, which have to be sold due to state aid rules after the taxpayer bailout. RBS has to offload the branches by December 2013. The Sunday Telegraph said Hester was keen to speed up the process after Lloyds Banking Group suffered problems disposing of its 'project verde' branches. The report said before Christmas UBS will look at hiving off the unit, either through an initial public offering or some form of management buy-out. It is though...