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February 3, 2014updated 04 Apr 2017 2:32pm

RBS plans to restructure top management team-report

Royal Bank of Scotland (RBS) is reportedly planning to shake up its top management team as part of a broad restructuring initiative.

By Verdict Staff

Royal Bank of Scotland (RBS) is reportedly planning to shake up its top management team as part of a broad restructuring initiative.

RBS CEO Ross McEwan’s initiative is aimed at strengthening the bank’s focus on retail and small business customers, according to the Financial Times.

As part of the restructuring, the acting head of the bank’s retail business Les Matheson will be made permanent to his role, according to the FT report.

Additionally, RBS will appoint new finance director to succeed Nathan Bostock who resigned in December to join Santander UK.

The report added reported that the potential replacements for Bostock’s role could include Old Mutual CEO Philip Broadley, Santander finance director Stephen Jones, and Credit Suisse deputy CFO Charlotte Jones.

According to the FT, McEwan is planning to restructure his executive team following the launch of his new strategy later this month alongside annual results.

The management changes will include an appointment to the SME business.

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