Royal Bank of Scotland is considering whether two senior executives should leave as it nears a deal with regulators over its role in a global interest rate rigging scandal, a source familiar with the situation told Reuters. John Hourican, head of RBS's investment bank and Peter Nielsen, head of markets at the part-nationalised British bank, could be asked to quit at the same time as a settlement over alleged manipulation of the London interbank offered rate (Libor) and other benchmark rates, said the source, who declined to be named. There was no suggestion during the investigation that either of the bankers had any knowledge of wrongdoing, the source said, adding that no decision had been taken by the bank as to whether to ask them to leave. Hourican and Nielsen were not available for comment. RBS declined comment. RBS is expected to face fines greater than the $450 million paid by rival Barclays over rigging of Libor and other benchmark interest rates used to price trillions
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