Royal Bank of Scotland (RBS) is in talks with regulators at the Bank of England to appoint Ross McEwan as its new chief executive, replacing Stephen Hester who stepped down in June 2013.
If McEwan’s appointment by the regulators at the Bank of England’s Prudential Regulation Authority (PRA) falls through, the bank’s current finance director, Bruce van Saun, will be the fall-back candidate.
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Ross McEwan, who joined RBS in August 2012 as head of its retail banking arm, has been regarded as the preferred candidate for the CEO role by the chairman Sir Philip Hampton, who has led the search for a new chief.
If the Prudential Regulation Authority approves the appointment, an announcement could be made alongside RBS’s second-quarter results on Friday.
McEwan joined RBS from Commonwealth Bank of Australia where he was group executive for retail banking services for five years.
McEwan has worked in the insurance and investment industries in Australia and New Zealand for more than 25 years. He has spent 18 years in senior executive roles including managing director of stockbroking business First NZ Capital Securities and CEO of National Mutual Life Association of Australasia Ltd/AXA New Zealand.
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