RBS Appoints CBA's McEwan To Head Up Retail Business
May 07 2012 - 6:51AM
Dow Jones News
Royal Bank of Scotland Group PLC (RBS) said Monday that it
appointed Ross McEwan to head up its retail banking division.
The hire came after RBS's current head of retail Brian Hartzer
announced this year that he would quit the bank to oversee
Australian bank Westpac Banking Corp.'s (WBK) retail operations.
Hartzer, who had been tipped as some as a long-term successor to
RBS Chief Executive Stephen Hester, is leaving the bank for
personal reasons.
McEwan, who is joining from the Commonwealth Bank of Australia
(CBA.AU), is expected to take the reins this summer and will arrive
at the part-government-owned lender at a crucial time. Following
its taxpayer bailout in 2008, RBS has reorganized its strategy to
refocus its retail business in the U.K. and Ireland.
McEwan will preside over 19 million customers and GBP100 billion
in customer assets.
-By Max Colchester, Dow Jones Newswires; +44 (0) 207 842 9295,
max.colchester@wsj.com
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