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Ex-FSA chair Howard Davies to succeed Philip Hampton as RBS chairman

The Royal Bank of Scotland has confirmed former FSA chairman Howard Davies will succeed Philip Hampton as chairman later this year.

Davies, who was also previously deputy governor of the Bank of England and director general of the Confederation of British Industry, will join the RBS board at the end of June and assume the role of chairman on 1 September 2015.

Davies is currently chairman of Phoenix Group, a non-executive director of Prudential and a non-executive director of Morgan Stanley. He will step down from his roles at Phoenix and Morgan Stanley.

Davies says: “RBS occupies a unique position and I will take over the reins from Philip at an exciting time and am grateful to him for the stewardship he has provided to RBS. 

“Ross McEwan has set out a very clear strategy to create the number one bank in the UK for trust, customer service and advocacy. I look forward to working closely with him in order to achieve that ambition.”

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