NWG Natwest Group Plc

By Adam Clark

Royal Bank of Scotland Group PLC (RBS.LN) has appointed its chief executive of commercial-and-private banking, Alison Rose, as deputy head of its ring-fenced banking operation, raising the profile of one of the prime internal candidates to succeed group CEO Ross McEwan.

Ms. Rose will become deputy CEO and a director of NatWest Holdings, the holding company which houses RBS's retail-banking operations, deputising for Mr. McEwan. She will also continue in her role as CEO of commercial-and-private banking. The new post is effective from Dec. 3.

The resignation of RBS Chief Financial Officer Ewen Stevenson earlier this year stoked speculation about CEO succession at the lender. Analysts at stockbroker Goodbody said the move left Ms. Rose as one of the top internal candidates for the CEO role, alongside Les Matheson, RBS's head of personal-and-business banking.

Mr. McEwan has previously indicated he envisages staying with RBS until at least 2020 and would like to return the bank to private hands, with the U.K. government still holding a majority stake following its bailout in 2008. Mr. McEwan became CEO in 2013.

"Alison has been doing a fantastic job leading our Commercial and Private-Banking division and cementing our position as the U.K.'s biggest and best bank for business. Alison's commitment and focus on our customers will also be a strong addition to board discussions and decision-making and this appointment is a reflection of that," Mr. McEwan said.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

November 14, 2018 05:26 ET (10:26 GMT)

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