A former head of HSBC’s Hong Kong operations, Mark McCombe, has emerged as the external frontrunner for the position of RBS chief executive.
McCombe is competing with four other candidates to replace Stephen Hester as CEO of the part-nationalised bank.
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McCombe, had a 20-year career with HSBC, is currently the chairman of fund manager BlackRock’s Asia Pacific operations.
RBS has been struggling to recruit a suitable replacement for ousted CEO Stephen Hester, whose departure in June was engineered by Chairman Philip Hampton with the backing of Britain’s finance ministry.
Sir Philip Hampton, the RBS chairman, and Anna Mann’s MWM headhunting firm are interviewing candidates and could name a new chief executive by 2 August 2013.
David Roberts, the deputy chairman of Lloyds and a former banker at Barclays, is seen as a second credible external candidate for the post. The other external candidate includes Richard Meddings, finance director at Standard Chartered Plc.
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By GlobalDataInternal options for the role would include Ross McEwan, the head of RBS’s retail banking operations, finance director Bruce Van Saun, and Nathan Bostock, currently head of restructuring and risk and a former Abbey National finance chief.
