Royal Bank of Scotland (RBS) chief executive of wealth arm Rory Tapner has reportedly decided to step down as part of a string of management changes undergoing in the bank.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According to a Sky News report, the bank will announce Tapner’s departure alongside the bank’s annual results expected to be declared on 26 February 2015 besides confirming the appointment of Howard Davies as its new chairman replacing Philip Hampton.
Tapner joined RBS in 2010 to run RBS’s global wealth management business, which was a core element of its strategy under the then chief executive, Stephen Hester, and his predecessor, Fred Goodwin.
Under the bank’s current boss, Ross McEwan, RBS will sell Coutts’ international arm at an expected price tag of £600m and the UK operations of Coutts has been moved within the commercial and private banking division of RBS.
The Coutts sale will not include a licence to use the wealth management brand, which will remain attached to Coutts’ UK operations.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe structural changes to RBS’s wealth business had diminished the scale of Tapner’s role, according to the Sky News report.
