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Hourican's farewell to RBS staff

The departing chief executive of the markets and international banking unit's message to staff after today's Libor settlement

The chief executive of Royal Bank of Scotland's markets and international banking division, John Hourican, who is leaving in the wake of today's settlement with regulators over the bank's involvement in the Libor scandal, sent a final message to staff this afternoon. FN has obtained the memo in full.

"You will have seen today's announcement that RBS has agreed to pay substantial fines to the UK and US authorities in relation to the Libor rate-rigging scandal.

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