据知情人士透露，NatWest Group Plc 正在逐步退出美国及欧洲政府债券市场。
Group Plc is pulling back from the US and European government bond markets, according to people with knowledge of the matter.
这些要求匿名讨论内部消息的人士表示，作为停止在这些市场进行一级交易计划的一部分，NatWest 将裁减多达 10 个职位。
As part of the plan to stop primary dealing in those markets, NatWest is cutting as many as 10 jobs, said the people, who asked not to be identified discussing private information.
其中一位人士称，这家总部位于爱丁堡的公司仍将继续作为英国债券市场的一级交易商。该人士还表示，公司的市场业务部门正计划将重点转向融资、咨询和对冲等活动。
The Edinburgh-based firm will remain a primary dealer in the UK bond market, one of the people said. The firm’s markets unit broadly is planning to shift its focus toward activities including financing, advisory and hedging, the person said.
NatWest 的一名发言人表示，该银行正在“简化”其市场业务的结构，并“计划退出”美国及欧洲的一级交易商计划。
A spokesperson for NatWest said the bank is “simplifying” its markets business structure and “proposing to withdraw” from primary dealership programs in the US and Europe.
发言人称：“美国及欧洲仍然是 NatWest 的重要市场，这些调整将使我们能够把资源集中在能为客户创造最大价值并支持未来增长的业务领域。”
“The US and Europe remain important markets for NatWest, and these changes will allow us to focus resources on areas where we can deliver the greatest value for customers and support future growth,” the spokesperson said.
根据公开文件，NatWest Markets 在第二季度实现了 4.36 亿英镑（5.75 亿美元）的总收入，同比增长 18%。不过，该银行在 7 月份表示，市场波动和客户交易量下降影响了该期间的固定收益业务收入，从而拖累了该部门的总收入。
NatWest Markets brought in £436 million ($575 million) of total income in the second quarter, up 18% from the prior year, according to filings. However, the bank in July said that volatility and a drop in customer volumes had hurt fixed income revenue during the period, which weighed on the unit’s total income.
固定收益业务在第二季度创造了 3200 万英镑的收入，同比下降约 28%。
The fixed income business brought in £32 million in the second quarter, down roughly 28% year-over-year.
根据公司文件，截至 2025 年 12 月，市场业务部门约有 1600 名员工，比 2019 年减少了约 70%。2019 年时，该部门曾有约 5000 名员工。
The markets unit employed about 1,600 people in December 2025, roughly 70% fewer than in 2019, according to company filings. In 2019, the markets unit employed some 5,000 people.
自 NatWest 的市场业务部门鼎盛时期（当时该银行名为 Royal Bank of Scotland Group Plc）以来，其规模已大幅缩减。在 Fred Goodwin 的领导下，RBS 曾报告称，其全球银行与市场业务在 2007 年实现了 37 亿英镑的营业利润，而这一年正是英国政府在金融危机中对该银行实施救助的前一年。
NatWest’s markets unit has shrunk since its heyday when the bank was named Royal Bank of Scotland Group Plc. RBS, under Fred Goodwin’s leadership, reported that its global banking and markets business brought in operating profits of £3.7 billion in 2007, the year before the UK government bailed out the bank during the global financial crisis.
2020年，RBS大幅削减了其市场业务，并放弃原有名称，改用NatWest。时任首席执行官的艾莉森·罗斯表示，NatWest Markets的风险加权资产将几乎减半，降至约200亿英镑。
In 2020, RBS slashed the markets business and abandoned its name in favor of NatWest. Alison Rose, chief executive officer at the time, said risk-weighted assets at NatWest Markets would almost halve to about £20 billion.
近几周，欧洲政府债券市场动荡不安。由于投资者担忧法国庞大的预算赤字以及明年总统选举可能带来的结果，纷纷抛售法国国债。许多人转而寻求德国债券的安全庇护，导致投资者持有法国10年期债券所要求的收益率溢价在过去两个月内几乎翻倍，上周更飙升至159个基点以上，创下15年来的新高。
The European government bond market has been jittery in recent weeks, as investors have fled French debt amid concerns over the nation’s wide budget deficit and anxiety surrounding the potential outcomes of next year’s presidential election. Many sought the safety of German bonds instead, causing the yield premium investors demand to hold French 10-year notes to almost double in the past two months, jumping to a 15-year high above 159 basis points last week.
一位了解此事的人士表示，NatWest的这一举措与近期的市场波动无关。
NatWest’s move is unrelated to recent market volatility, one of the people familiar with the matter said.