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RBS deputy chief exec steps down early

Royal Bank of Scotland deputy chief executive Chris Sullivan has left the bank earlier than expected.

Sullivan had been due to leave the bank in 2015, but a spokesman says he stepped down on 31 December.

The spokesman confirmed the departure was earlier than planned but declined to comment on the reason for Sullivan’s exit.

In July, the Treasury select committee attacked evidence given by Sullivan on RBS’s controversial Global Restructuring Group, which has been accused of putting viable businesses into default to boost profits.

TSC chair Andrew Tyrie described the evidence as “wilfully obtuse”.

Sullivan was head of RBS’ corporate bank until he moved to the deputy chief executive role as part of a restructure in February 2014.

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