RBS stays in PF, advises Dolphin deal

Former boss Sir Fred Goodwin is vilified in the British press, and the UK government effectively controls 68% of its equity, but credit crunch victim Royal Bank of Scotland retains some significant businesses, notably a project finance arm which has acted as advisor to major GCC project sponsors including Qatar Petroleum, Saudi Aramco, Total, ConocoPhillips, ExxonMobil and Occidental Petroleum Corp (Oxy). Rumour has it that, as it refocuses its investment banking operations, a contrite RBS is set to exit project, leveraged and real estate lending.