RBS reshuffles treasury

LONDON -- Royal Bank of Scotland (RBS) last week announced changes to its senior managers in the treasury and money markets groups, following the departure of former money markets head Brian Larkman.

David Morrison, who was previously head of group treasury in London, now takes over Larkman's role as global head of money markets.

Neil Coulbeck recently returned to the bank's London office from New York to become the new head of group treasury, replacing Morrison (FX Week, June 11). At that time, European FX manager Graham Broyd replaced Coulbeck as North American head of the Financial Markets group, taking responsibility for FX, interest rate derivatives, money markets and capital markets.

Larkman, who retired from the bank in August, came to RBS at the time of the bank's merger with National Westminster Bank, where he was also head of money markets within the Global Financial Markets group (FX Week, April 24, 2000).