RBS enlists veteran accountant

Royal Bank of Scotland has asked senior KPMG partner Brendan Nelson to join
its board and head up its audit committee.

Nelson has been approached to advise the bank in the capacity of a
non-executive director. The Sunday Telegraph reported that he is interested in
the position, but has not formally accepted the offer.

It is hoped that Nelson will help the beleagured bank sort out its executive
remuneration debacle. Over 90 oer cent of RBS’s shareholders voted against the
nationalised bank’s latest remuneration report at an annual meeting on Friday.

Lloyds Banking Group is also keen to hire some fresh talent to its board. The
Sunday Times reported that it is pursuing Bupa chairman Lord Leitch as a new
senior independent director.

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