According to media reports, the company has said that as part of the revamping it was planning to make its poorly functioning mortgage-backed securities holdings into a separate unit and cut down on the staff in its real estate business.
Reuters has quoted a London-based analyst with a US investment bank, as saying: It gives you the feeling there is still a fair degree of chaos at the investment bank and it points to the need for an overall manager. It seems like a stabilization plan until they bring in someone new to head the business later this year.
