BusinessCompany NewsBoardroom shakeup at RBS

Boardroom shakeup at RBS

RBS restructures by appointing three directors to its board in a show to regain shareholder confidence

Britain’s second biggest bank,
Royal Bank of Scotland
(RBS), has appointed three non-executive directors in an effort to address
shareholder concerns following its £12bn rights issue.

Stephen Hester, British Land chief executive; Arthur Ryan, former Prudential
Financial of the US chairman of; and John McFarlane, a former Australia and New
Zealand Banking Group (ANZ) chief executive, will all join the bank’s board as
non-executives from the start of October, The Daily Telegraph reports.

‘Their experience in financial services will be of great benefit to RBS given
the increasingly diversified and international nature of our powerful banking
franchise,’ Sir Tom McKillop, RBS chairman, said.

The bank also announcded the stepping down of part-time directors Lawrence
Fish and Charles Koch at the company’s annual meeting next April.

Further reading:

RBS reports massive write-downs

Read
The Daily Telegraph story

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