LONDON, April 11 The boss of Royal Bank of
Scotland's Japanese investment bank will leave RBS
following investigations by Japanese authorities into interest
rate rigging, a source familiar with the matter said on
Japanese authorities could publish their findings as early
as Friday, the source said, and Ryusuke Otani, chief executive
officer at RBS Securities Japan, will step down at that time.
RBS was fined $612 million by U.S. and British authorities
in February to settle allegations it manipulated benchmark
interest rates, prompting John Hourican, head of its investment
bank to step down.
U.S. and British investigators said they discovered hundreds
of attempts by at least 21 RBS employees in London, Singapore
and Tokyo to manipulate the London Interbank Offered Rate
(Libor) and other benchmark interest rates. They said the abuse
occurred between 2006 and 2010.
Investigations by other regulators have since continued.
Last week, Japan's Securities and Exchange Surveillance
Commission asked the country's financial watchdog to take
'administrative action' against RBS.
Otani could not immediately be reached for comment. RBS
declined to comment.