RBS: Timing not yet right to unload U.S. unit

|By:, SA News Editor

"Even if you wanted to do something, now would not be the time to do anything," RBS Group Finance Director Bruce Van Saun tells the Barclays Financial Services Conference (presentation slides). Van Saun - who is set to be the next head of RBS' U.S. subsidiary, Citizens FInancial Group - says the current M&A market is too hostile for to consider selling off the unit.

He reiterates RBS' previous guidance of a late 2014 or early 2015 sale. "The list of potential buyers today is quite thin ... We're just focused on getting the performance up."