Natwest finance chief quits following Scottish takeover

In a statement, RBS said Delbridge’s resignation had been by mutual agreement as his age, 57, would ‘preclude him from providing long term leadership in the enlarged group.’

He will leave in April, although Grahame Whitehead the finance and risk director of RBS’s UK bank division has been appointed group chief financial officer for the combined RBS and Natwest group and will take over with immediate effect.

The announcement was among the final set of key management appointments confirmed by the group with former RBS executives taking the lion’s share.

Delbridge’s departure was greeted with surprise in the banking industry, according to reports, after RBS had initially indicated that we would remain.

‘I am reluctant to start something that I could not see through to conclusion. Leaving now enables me to pursue my intention of building a portfolio of business interests,’ Delbridge said.

Delbridge was former group finance director at HSBC and Midland Bank following 14 years at JP Morgan.

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