Ross McEwan, chief executive of RBS is to step down after five and half years, saying now is the “right time” to step down.
McEwans has given a year’s notice to help the bank find a suitable successor, to ensure an “orderly handover.”
McEwan said he’s achieved his strategy and returned the bank to profitability and put it on a firmer financial footing.
He said, “After over five-and-a-half very rewarding years, and with the bank in a much stronger financial position, it is time for me to step down as CEO.”
Adding, “It is never easy to leave somewhere like RBS.
“However, with much of the restructuring done and the bank on a strong and profitable footing, I have delivered the strategy that I set out in 2013 and now feels like the right time for me to step aside and for a new CEO to lead the bank.”