(This story from November 10 is corrected to change job title)
LONDON, Nov 10 (IFR) - Royal Bank of Scotland has put one of its most senior EMEA bankers, Eamonn Price, on an at risk redundancy list as it makes cuts within various investment banking businesses in a bid to save costs.
It is a massive about-turn for RBS, which is 83%-owned by the UK government, as Price only joined the bank in March this year. He was appointed head of financial institutions for the EMEA region and reports to the global head of the financial institutions group, William Fall.
Earlier this month, RBS announced weak Q3 results and said it would trim its investment bank.
Price is a veteran FIG banker, and before joining RBS had most recently been co-head of European debt capital markets and head of European FIG at Lehman Brothers, a post he left in June 2008 before the firm defaulted.
RBS is also making deep cuts in debt capital markets, although at a more junior level. Among those hit by redundancy notices included Antonios Ntatzopoulos, who is associate for FIG DCM covering Greece, Iberia and Italy. The bank is also potentially cutting two associates from the origination desk, Alex Cheema and James Wright.
The sales and trading operation is also being hard hit as the bank tries to reduce costs following a collapse in market activity in 2011.
Jonny Doyle and Paul Gordon-Brown, who looked after financial institutions trading, and Liam Griggs, who traded leverage loans, are at risk. Meanwhile, Tom Granger and Evanita Ten Napel, who worked on UK and Dutch debt sales respectively, have been notified that they too face redundancy.
RBS refused to comment to IFR.
(Reporting by Helene Durand, additional reporting by Sandrine Bradley; editing by Alex Chambers)