RBS 'poised' to name Stephen Hester's successor

The Royal Bank of Scotland is reportedly poised to name insider Ross McEwan as chief executive Stephen Hester's successor.

A Royal bank of Scotland sign.
Royal Bank of Scotland chief executive Stephen Hester has stepped down. Credit: Johnny Green/PA Wire

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.

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RBS names new chief executive

Royal Bank of Scotland, which is 82% owned by the taxpayer, has announced that its head of retail banking, Ross McEwan, will succeed Stephen Hester as chief executive. RBS has also revealed it made £1.37 billion profits for the first half of the year