The latest proposals under consideration would see the investment bank divided into three parts: the group’s advisory business, which could be spun off at some later point; a “bad bank” to hold high-risk assets that will be wound down; and the rest of the business.
While both ideas have been floated, they are not viewed as a priority, according to the people with knowledge of the board’s thinking. A sale of the New York-based securitised products business — which packages up debts such as mortgages and loans for yachts, then sells them on as securities — would reduce the bank’s capital commitment but also deprive the bank of one of its most profitable business lines.
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