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RBS appoints ex-FSA supervision MD as head of conduct

Jon-Pain-Ex-FSA-MD-700x450.jpg
Jon Pain

Royal Bank of Scotland has appointed former FSA managing director of supervision Jon Pain as head of conduct and regulatory affairs.

Pain will join the bank in August to head up the conduct and regulatory affairs division and will report directly to group chief executive Stephen Hester.

Pain resigned from the regulator in July 2010 and joined accountancy firm KPMG as a partner the following July.

Prior to joining the FSA, he held managing director positions at Lloyds Banking Group, where he worked for more than 30 years.

RBS chief executive Stephen Hester says: “The creation of this position sends a clear message about how we want to do business – serving customers well, completing our return to a safe and conservative risk profile, and generating sustainable returns for shareholders.

“If we achieve these objectives, and do so in the right way, RBS will become a really good bank.”

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Comments

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

  1. Roman Duzinkewycz 28th May 2013 at 8:42 am

    Jobs for the boys in the club yet again.

  2. RegulatorSaurusRex 28th May 2013 at 1:59 pm

    That is why you won’t see bankers being prosecuted by the regulators.

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