Bank Chief Faces Long List of Challenges

New Royal Bank of Scotland (RBS) chief executive New Zealander Ross McEwan must confront a long list of challenges, according to the Financial Times, and at the forefront of issues facing him, “is the government review of whether RBS should be split into a good and bad bank.”

Alongside Chancellor [George Osborne]’s October announcement of a decision on the good bank-bad bank split, McEwan is expected to sketch out his vision for RBS. There will be scant detail, with the full agenda saved up for fanfare disclosure in a few months’ time, probably with full-year results in February.

But people close to the new chief executive say he will be sure to signal a shift from [outgoing boss Stephen] Hester’s agenda of fixing the balance sheet after the group’s failure and government rescue in 2008, and towards running RBS as a “customer-centric” bank.

McEwan, buttressed by a new finance director, Nathan Bostock, must also decide on his top team.

Whoever occupies those seats, RBS is likely to be managed in a very different way, they say. “Stephen ran the bank on a bilateral basis with each divisional boss. It was very siloed,” says one. “That will change. Ross is very much a team player.”

McEwan was appointed chief executive for UK Retail at the Royal Bank of Scotland in August 2012.


Tags: Chancellor George Osborne  Financial Times  Nathan Bostock  Ross McEwan  Royal Bank of Scotland  Stephen Hester  

Moe mai rā Nancy Brunning

Moe mai rā Nancy Brunning

One of New Zealand’s best loved actresses Nancy Brunning, made famous as Nurse Jaki on Shortland Street, has died in Wellington, aged 48, Daily Mail Australia reports. Brunning, a talented playwright, acting…