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

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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.

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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