BusinessPeople In BusinessRBS finance chief Bruce van Saun tipped to join Citizens

RBS finance chief Bruce van Saun tipped to join Citizens

Bruce van Saun reportedly set to join RBS' US arm ahead of float; Nathan Bostock lined up as successor

RBS finance chief Bruce van Saun tipped to join Citizens

ROYAL BANK OF SCOTLAND is preparing to appoint its chief financial officer, Bruce van Saun, as head of its US subsidiary Citizens before the unit is floated, it has been widely reported.

The state-backed bank is thought to have lined up Nathan Bostock, the former finance director Abbey National, as Van Saun’s successor.

The appointment could be announced within a matter of weeks, though may not take effect until later in the year, said the Financial Times, which first reported the changes.

RBS declined to comment.

Bostock is head of risk and restructuring at RBS, a position he had held since joining from Abbey National in 2009. He had planned to join Lloyds Banking Group as head of wholesale banking in 2011, but abandoned the move.

People close to the situation told the FT, Bostock was promised a more senior role at RBS in the future, which included the prospect of replacing Van Saun.

Van Saun joined as RBS’ finance director in 2009, and has helped slim down the bank’s bloated balance sheet as part of a five-year turnaround plan devised by chief executive Stephen Hester.

In an interview with Accountancy Age’s sister title Financial Director last year, Van Saun explained that he took the RBS job following a telephone conversation with new CEO Stephen Hester which, he said, went something like: “How would you like to join me on the biggest turnaround on the planet?” Van Saun blithely adds the offer had “a certain attraction to it”.

The full interview can be read here.

Related Articles

Former Clydesdale Bank CEO Thorburn takes EY NED post

People Business Former Clydesdale Bank CEO Thorburn takes EY NED post

1y Calum Fuller, Reporter
One in four FTSE 100 bosses hold accounting qualification

People Business One in four FTSE 100 bosses hold accounting qualification

1y Richard Crump, Writer
‘Personal' reasons cited for Sodexo CFO Herbert-Jones' early exit

People Business ‘Personal' reasons cited for Sodexo CFO Herbert-Jones' early exit

2y Chris Warmoll, Writer
blur group finance chief leaves to face bankruptcy hearing

Legal blur group finance chief leaves to face bankruptcy hearing

2y Chris Warmoll, Writer
Aero FD and Deloitte set for tribunal after FRC issue formal complaint

Accounting Firms Aero FD and Deloitte set for tribunal after FRC issue formal complaint

3y Chris Warmoll, Writer
Colin: Fantasy finance for Disney CFO

People Business Colin: Fantasy finance for Disney CFO

2y Taking Stock
Ex-Aero Inventory FD struck off and fined by FRC

People Business Ex-Aero Inventory FD struck off and fined by FRC

2y Chris Warmoll, Writer
Friday Afternoon Live: 'Posh' accountants; The CFO Agenda 2015

People Business Friday Afternoon Live: 'Posh' accountants; The CFO Agenda 2015

2y Kevin Reed, Writer