Goldman reportedly replaces JPMorgan for U.K.'s RBS job

• Goldman Sachs (NYSE:GS) has been hired to replace JPMorgan (NYSE:JPM) as the U.K. government's adviser for the privatization of Royal Bank of Scotland (NYSE:RBS), reports Bloomberg.
• JPMorgan was hired in 2013 with the expectation that the role would come up for review from time to time.
• The government owns about 79% of RBS.
• Goldman's winning of the business comes as the bank bids for more than $20B in mortgages being sold by U.K. Asset Resolution, Ltd. JPMorgan bought about $4B in mortgages from the operation late last year.