LONDON – The Royal Bank of Scotland, parent company of Providence-based RBS Citizens Financial Group, has begun the process of looking for a new chief executive to replace Stephen Hester, who was pressured to step down last month, according to an article by Patrick Jenkins and Sharlene Goff in the Financial Times.
One of the possible candidates to head RBS is outgoing finance director Bruce Van Saun, “if he can be persuaded to remain in the U.K.,” according to the article.
The Royal Bank of Scotland announced in May that Van Saun would become RBS Citizens Financial Group Chairman and CEO on Oct. 1, to replace Ellen Alemany, who will retire at that time.
Van Saun’s appointment had been expected ahead of RBS Citizens Financial Group’s planned partial IPO in 2015.
Whoever is appointed, the new RBS chief executive “…will face immediate challenges, with uncertainty having over RBS’s future and growing signs of government meddling in the running of the bank, which is 82 percent owned by taxpayers,” the Financial Times report said.
Providence-based RBS Citizens Financial Group, Inc. employs 5,400 in Rhode Island.
Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.