RBS on the hunt for new CEO
(26 April 2019 – United Kingdom) Royal Bank of Scotland has begun its search for a successor to chief executive Ross McEwan who announced his resignation at the lenders’ annual meeting on Thursday.
After five years in the top role and having completed one of the largest restructurings in UK corporate history and returning the taxpayer-owned bank to profitability, Mr McEwan said it was the “right time” for him to step down.
Alison Rose, head of the bank’s commercial and private banking business, is the internal favourite to take the chief executive role.
Ms Rose, who has worked at RBS her entire career and recently led a government review into female entrepreneurship, would be the first woman to lead one of the UK’s “big four” high street banks.
The 61-year-old Mr McEwan had been expected to announce his departure at some point this year, however shares in the bank nonetheless dropped 3.4 percent as analysts noted that his departure would be “a loss” for the company.
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