Home Blog RBS picks first woman to lead ‘Big Four’ UK bank

RBS picks first woman to lead ‘Big Four’ UK bank

Old handout photos show Alison Rose, the new chief executive of the Royal Bank of Scotland (RBS).

Alison Rose will officially start a new job on November 1, the day after Britain exits the European Union on behalf of Ross McEwan.

Old handout photos show Alison Rose, the new chief executive of the Royal Bank of Scotland (RBS).

Old handout photos show Alison Rose, the new chief executive of the Royal Bank of Scotland (RBS).
(AFP)

On Friday, the Royal Bank of Scotland, a state-owned structure, promoted Alison Rose as CEO, making him the first female boss of a major lender in the UK.

Rose, vice president of the group's NatWest Holdings retail division and RBS commercial and private banking department, replaces Ross McEwan, who was recently selected as head of the National Australia Bank.

News of Rose's broad commitments in the company's statement increased the RBS stock price by 3.5{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} to 215.30 pence, surpassing the London market, which was flat on afternoon trading.

Rose officially starts a new job on November 1, the day after Britain leaves the European Union.

McEwan, a New Zealander who also stepped down on October 31, led RBS through a steady recovery following the world's largest bank bailout triggered by the global financial crisis a decade ago.

He oversaw extensive operational checks, drastically reducing lenders' investment banking activities and cutting tens of thousands of jobs.

Consecutive candidates & # 39;

Russ Mold, head of investment at online broker AJ Bell, said, “Rose appears to be a sequential candidate given 27 years of experience in the bank.

"She will be the first woman to head a major bank in the UK," he added.

Headquartered in Edinburgh, RBS is still 62 percent owned by the UK government after the massive national bailout that caused the bank's infamous former CEO Fred Goodwin.

As a gender equality advocate in business, Rose will be the only woman to lead one of the UK's so-called "Big 4" banks that make up Barclays, HSBC and Lloyds Banking Group.

She will be one of the six female CEOs of the company listed on the London benchmark FTSE 100 stock index.

& # 39; Brexit is waiting & # 39;

Rose will someday take control of Brexit with or without a deal with Brussels in the UK.

She also reins in the wake of global turmoil and economic growth surrounding the US-China trade war.

Rose said in a statement, "It's a very exciting time to open a new chapter for the bank."

"Our industry is facing a series of challenges, from constant economic and political uncertainty to changing customer behavior and expectations by the rapid development of technology.

"Being ready to solve these challenges will be my priority."

The new boss is paid a base salary of $ 1.4 million, but you can earn millions of more with long-term performance bonuses.

A major controversy

The national structure of the Royal Bank of Scotland was a famous and controversial event that surprised the United Kingdom, angered taxpayers, and focused on bitter press attention to executive bonuses and actions in male-dominated bank meeting rooms. .

RBS suffered a net loss of approximately $ 74 billion after the full bailout.

Goodwin was deprived of his knighthood for his role in his loan by Queen Elizabeth II in 2012, which was kicked out with $ 56 billion in taxpayer cash.

Rival Lloyd Banking Group was rescued with state cash after the financial crisis but returned to private ownership in 2017.

Source: AFP

Source Link : https://www.trtworld.com/business/rbs-picks-first-woman-to-lead-big-four-uk-bank-29992?utm_source=other&utm_medium=rss

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