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Hester la vista: Who’s in the frame to be next RBS chief?

RBS-Building-2012-700x450.jpg

The Royal Bank of Scotland could turn to Lloyds Banking Group or look internally to replace chief executive Stephen Hester after he announced he was leaving on Wednesday.

Hester will depart later this year and the hunt for his successor begins immediately. Labour yesterday slammed the Government’s handling of RBS as “shambolic” and “uncertain” and questioned why a successor wasn’t ready to be announced immediately.

The bank has hired recruiters MWM Consulting which has already drawn up a list of candidates.

Sky News is reporting Lloyds Banking Group deputy chairman David Roberts as a leading candidate on the list.

Roberts worked at Barclays for 23 years before leaving in 2006 and was linked with replacing Bob Diamond last summer when he left after the Libor rigging scandal.

The Times reports Lloyds Banking group director of retail Alison Brittain is also in the running. Brittain followed chief executive Antonio Horta-Osorio from Santander in September 2011 where she was executive director of retail distribution.

The leading internal candidat is RBS head of restructuring and soon to be finance director Nathan Bostock who is odds on to get the job with Ladbrokes. Bostock moved to RBS in 2009 after spending eight years at Abbey National, lastly as chief finanical officer.

RBS chief executive of the non-core division Rory Cullinan is also in with a shout along with RBS UK retail chief executive Ross McEwan.

Other possibilities include former RSA chief executive Andy Haste, former Prudential UK chief executive Nick Prettejohn, former HSBC head of wealth management Paul Thurston and Direct Line chief executive and former RBS banker Paul Geddes.

Standard Chartered finance director Richard Meddings is also understood to be under consideration by the board.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Roman Duzinkewycz 14th June 2013 at 9:57 am

    May I apply for the role please? I can’ do a worse job than Hester has and maybe someone from an adviser background may help turn the focus round to what people actually want and need? Even if it’s for 3 months only, I will at least walk away with a big fat payoff for cocking things up even more.

  2. Steven Hester has done an excellent job in difficult circumstances. The fact that the group is now well on the road to being returned to private ownership and the balance sheet rid of hundreds of billions £ of non core assets is something we should all be grateful for.

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