Business World

Saturday 21 September 2019

RBS in hunt for McEwan successor

Ross McEwan
Ross McEwan

Stefania Spezzati and Harry Wilson

Royal Bank of Scotland's top banker is to leave within a year, in an expected move that potentially paves the way for a senior female executive to take his role. The bank will start searching to replace Ross McEwan as CEO immediately.

Under Mr McEwan (61) RBS shifted strategy to refocus the bank back on core markets in the UK and Ireland, which included splitting Ulster Bank operations in the Republic and Northern Ireland.

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RBS has retained search firm Spencer Stuart to find a new CEO and it will look at potential candidates in countries including Australia, UK and Canada.

Speculation has been rife on who could take the job after RBS cleared a major US settlement last year.

New Zealander McEwan joined RBS in 2013. He has been telegraphing his intention to step down, previously saying he intended to stay through the bank's 2020 plan.

People with knowledge of the matter have said that his successor could be Alison Rose, a lifer at RBS and its predecessor firms, who now runs British commercial and private banking and has also been given extra responsibilities recently.

Shares in the bank fell 2.7pc in late afternoon trading in London.


Irish Independent

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