Powered by MOMENTUM MEDIA
subscribe to our newsletter
RBS chairman steps down

RBS chairman steps down

The Royal Bank of Scotland Group plc (RBS) announced last week that its chairman, Sir Philip Hampton, will leave the company in 2015 after a suitable successor is appointed.

Sir Philip has served as chairman since February 2009 and his departure will be in line with his long-standing intention to serve in the role for between five and seven years, according to an RBS statement.

It was announced simultaneously that Sir Philip will be appointed to the board of GlaxoSmithKline plc as a non-executive director with effect from 1 January 2015 and will assume the role of chairman from 1 September 2015.

Advertisement
Advertisement

"It has been a privilege to serve as chairman of RBS since 2009,” Sir Philip said.

“I am looking forward to working with my colleagues in the months ahead as we work to implement the bank's strategy and continue to improve the support we provide to our customers,” he said.

The process for selecting the next chairman of RBS is being managed by the board's nominations committee.

Last month, RBS was fined $25.7 million for serious failings in their advised mortgage business sales.

 

RBS chairman steps down
mortgagebusiness

 

Latest News

The embattled wealth giant has confirmed that its statutory net profit fell by $820 million in 2018, due to costs associated with the royal ...

The non-major bank’s net profit after tax has dropped by 4.7 per cent, coinciding with weaker home lending performance. ...

Regulatory sandboxes may not be the answer for regulating cross-border fintechs, a new report has suggested. ...

FROM THE WEB

POST RC PANEL DISCUSSION ADDED

podcast

LATEST PODCAST: The aftermath of the final royal commission report

Is enough being done to ensure responsible lending?