Chancellor George Osborne has tweeted his support for incoming Royal Bank of Scotland chief executive Ross McEwan:
Ross McEwan strong choice for RBS. Focus on retail customers, clear direction and sensitivity on pay all good signs.
Ross McEwan has spoken about the "privilege" of becoming the head of RBS:
Ross McEwan: “It will be a privilege to lead a bank that matters to so many and I'm very much looking forward to getting started."
Philip Hampton, chairman: “Ross has already become a champion for customers in our business and will continue that role as CEO.”
- Ross McEwan was appointed Chief Executive Officer for RBS UK Retail in August 2012.
- He joined from Commonwealth Bank of Australia where he was Group Executive for Retail Banking Services for five years.
- He has worked in the insurance and investment industries both in Australia and New Zealand for more than 25 years.
- Mr McEwan holds a Bachelor of Business Studies and majoring in Industrial Relations & Personnel Management.
- He is married with two children and enjoys water skiing, cycling, reading and spending time with his family.
– Stephen Hester, chief executive of Royal Bank of Scoland
RBS has earned its first two consecutive quarters of overall profit since 2008.
The results of our successful restructuring continue to show benefits - capital strength and liquidity up, balance sheet, Non-Core assets and Non-Core/Irish losses all down, again.
The business challenges ahead lie principally in improving future operating trends and sustaining the focus and consistency needed to make further progress.
RBS can be a “really good bank” for customers and shareholders. That is our goal.
RBS has announced its head of retail banking will become its new chief executive:
We’re very pleased to say that Ross McEwan will be our next CEO. Ross joined RBS in Sept last year and will start his new role on 1 Oct
Royal Bank of Scotland today said Ross McEwan, its head of retail banking, will succeed Stephen Hester as chief executive from October 1.
The Royal Bank of Scotland is reportedly poised to name insider Ross McEwan as chief executive Stephen Hester's successor.
The banking giant was in late-stage talks with the Bank of England's Prudential Regulation Authority over his the appointment, the Financial Times (£) reported.
McEwan, who currently heads RBS's retail banking arm, could be announced as the bank reveals its half-year results today.
The Royal Bank of Scotland is expected to announce pre-tax profits when it releases its half-year financial results today.
Better retail revenues and lower loan losses at RBS's troubled Ulster Bank arm are expected to have helped.
Analysts expect the UK banking giant will announce £917 million in pre-tax profits for the three months to the end of June, against losses of £168 million a year earlier.
But they warn the bank's shrinking investment banking business will continue to see sliding revenues, down by an expected 10 percent on the first quarter.