Management Changes

RNS Number : 9137N

Royal Bank of Scotland Group PLC

26 February 2009

 



Management Changes at RBS

Nathan Bostock to join as Head of Restructuring and Risk

RBS is pleased to announce that Nathan Bostock will rejoin the Group in June as Head of Restructuring and Risk. This is a new role on the Group's Executive Committee, reporting to Stephen Hester, Group Chief Executive. The role will carry responsibility for the newly created Non-Core Division of RBS, those assets potentially covered in the newly announced Asset Protection Scheme (largely overlapping) and for the Risk and Legal functions within RBS.

Nathan is currently Chief Financial Officer of Abbey National and Alliance & Leicester. He started his career with Coopers and Lybrand before working in Financial Markets at the Chase Manhattan Bank and RBS. Following this his roles have included Director, Group Risk for RBS (until 2001), Head of Wholesale Markets at Abbey, Head of the Portfolio Business Unit (the non-core business division created at Abbey in 2002) and from 2004 Chief Financial Officer, more recently he has also been the Executive Director responsible for Products and Marketing, Human Resources, Cards and Insurance.

Appointment of Deputy Chief Executive - Gordon Pell

RBS also announces that Gordon Pell currently Head of Regional Markets has assumed the title of Deputy Chief Executive, reflecting his broader input to the Group's business. In addition to his Group role, Gordon will retain particular responsibility for the UK Retail, Wealth and Ulster Bank businesses. 

Stephen Hester Chief Executive of RBS said:

'We are very pleased to have attracted Nathan to join RBS in what is a crucial role for us going forward. He will work closely with new colleagues here in managing down our risk positions through oversight of both our Risk function and the new Non-Core Division that we have created. Nathan's experience bears well on these tasks.

We have also announced internally other management changes today. Gordon Pell has kindly agreed to postpone his scheduled retirement to 2010. We benefit greatly from his experience and I am pleased to recognise that with his changed role as Deputy Chief Executive.'

26 February 2009

For further information please contact:

Richard O'Connor

Head of Investor Relations 

[phone]

[phone]

Andrew Wilson     

Head of Group Corporate Affairs

[phone]

[phone]

 

END

 

 

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