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Kaupthing wants £1bn from asset business sale

Top managers left without jobs

Icelandic bank Kaupthing is hoping to raise £1bn (€1.3bn) from the sale of its asset finance business as part of a major restructuring of its UK operation Singer & Friedlander, which has left some of its senior London managers with much-diminished jobs.

Kaupthing revealed its exit from the asset finance business whilst outlining the strategy for its UK investment banking arm.

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