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RBS appoints new deputy chief executive and head of risk

RBS has appointed Gordon Pell as its new deputy chief executive and Nathan Bostock as head of restructuring and risk.

Bostock, currently chief financial officer of Abbey National and Alliance & Leicester, will join the group in June. He will take charge of the newly created non-core division of RBS, assets potentially covered in the newly announced Asset Protection Scheme and for the risk and legal functions within RBS.

Pell, currently head of regional markets, has postponed his scheduled retirement until 2010 to take up his role as deputy chief executive. He will retain some responsibility for the UK Retail, Wealth and Ulster Bank businesses, as well as taking on his new role.

RBS chief executive Stephen Hester says: “We are very pleased to have attracted Nathan to join RBS in what is a crucial role for us going forward. Nathan’s experience bears well on these tasks.

“Gordon has kindly agreed to postpone his scheduled retirement to 2010. We benefit greatly from his experience and I am pleased to recognise that with his changed role as deputy chief executive.”

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