Registered Office: The Mound, Edinburgh EH1 1YZ. Alison Rose joined the bank as a graduate trainee 27 years ago. Rose, who was widely tipped to get the role at the state-backed lender, will succeed outgoing CEO Ross McEwan on November 1. He is due to join National Australia Bank (Rose has worked at the bank for 27 years and takes on the role at a pivotal time for the lender, as British banks prepare for the economic fallout if Britain leaves the European Union without a deal next month. REUTERS/Peter Nicholls/File Photo
Ms Rose, who was widely tipped to get the role at the publicly-owned bank, will succeed outgoing boss Ross McEwan on 1 November. LONDON — Royal Bank of Scotland says chief executive Ross McEwan is stepping down after 5 1/2 years overseeing the restructuring of a bank that was bailed out by the government during the global financial crisis. The appointment means RBS will be led by two women in its top executive roles, after Katie Murray was promoted to the chief financial officer role in January. However Rose’s pension will be set at 10% of her salary in line with other RBS employees, compared to McEwan who is receiving 350,000 pounds a year in pension funding. Bank of Scotland plc.
Ross Maxwell McEwan CBE (born 16 July 1957 ) is a New Zealand banker, and the chief executive officer (CEO) and managing director of National Australia Bank. Pic: Tom Parkes McEwan, who has led the bank since 2013, announced his decision to retire in April. Royal Bank of Scotland names Alison Rose as new boss It was one of the first banks in Europe to print its own banknotes, and it continues to print its own sterling banknotesu… Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. "Ms Rose will receive a fixed base salary of £1.1m a year, which is up slightly from Mr McEwan who gets £1m.RBS said her pay package "continues to represent a restrained pay position in terms of comparable roles".However, Ms Rose's pension will be set at 10% of her salary in line with other RBS staff, compared to Mr McEwan who is receiving £350,000 a year in pension funding.UK banks have been criticised by investors this year for giving executives better pension arrangements than the rest of their employees.While the government has committed to seeing RBS fully back in private hands by 2024, the political and economic uncertainty around Brexit has delayed further sell-offs of the remaining 62% public holding and cast doubt on the timetable.
The Royal Bank of Scotland has named Alison Rose as its new chief executive, making her the first woman to head one of Britain's biggest high street lenders.Joining the bank as a graduate trainee 27 years ago, she is currently chief executive of its commercial and private banking arm, as well as deputy CEO of Natwest Holdings.She also led a government-commissioned review into the barriers holding back female entrepreneurs, Her appointment makes RBS the only company in the FTSE 100 index with women in its top two executive positions, after Katie Murray was promoted to the chief financial officer role in January.Mr McEwan, who has led the bank since 2013, announced his plans to leave the job in April.He is due to take over as chief executive of National Australia Bank.Ms Rose told investors it is an "exciting new chapter" for the bank as it faces "economic and political uncertainty" as well as changing consumer behaviour.She said: "As one of the oldest and most important financial institutions in the UK, we have a key role to play in supporting the economy and championing the potential that exists across the country. She will also be tasked with further patching up RBS’s damaged reputation and trying to return the bank to private hands, more than a decade after its 45 billion pound state rescue in the financial crisis.
RBS ended months of speculationwhen it …
Reporting by Huw Jones and Iain Withers; Editing by Rachel Armstrong and Andrew HeavensFILE PHOTO: A man walks past a branch of the Royal Bank of Scotland in London, Britain December 1, 2017. "Following a rigorous internal and external process, I am confident that we have appointed the best person for the job. "She brings extensive experience and a track record of success from her previous roles at the bank.