EDINBURGH – The Royal Bank of Scotland plc today announced it is promoting Lawrence K. Fish, currently chairman and CEO of Citizens Financial Group, to chairman of Citizens parent RBS America. He will continue to serve on the RBS board.
Supporting Fish will be a management team led by Ellen Alemany, a former Citigroup executive who will become RBS America’s CEO. Alemany will report to group Chief Executive Sir Fred Goodwin and will serve on the RBS Group Executive Management Committee.
Stephen D. Steinour will remain Citizens’ president and become the company’s CEO, RBS said, while Jay Levine will will continue in his role as CEO of RBS Global Banking & Markets business in the United States.
“These management appointments represent a logical and natural step in the development of our activities in the U.S. as our businesses work more closely together,” Goodwin said. “Larry has been pivotal in building our businesses in the U.S. and will continue to play a central role … as we step into a new phase.”
Looking back, Fish said: “The combination of our locally based management team and the global strength of RBS has taken us from a position of fifth largest bank in Rhode Island in 1988 to one of the top ten commercial banks in the U.S. today.”
Now, he added, “This new structure will enable our customers, shareholders, colleagues and communities to reap even greater benefits from the combined strengths of our businesses in the U.S.”
