London (AFP)

Royal Bank of Scotland (RBS) announced Friday the choice of its new CEO, Alison Rose, who becomes the first woman to lead one of the UK's leading banks in a context of fierce industry competition and Brexit risks.

Rose, who had previously been head of the NatWest subsidiary and who has worked for the band for 27 years, was a big favorite to succeed Ross McEwan. She will take office on November 1st.

McEwan, who will take over the head of the National Australia Bank (NAB) by the spring of 2020, has largely restructured the bank, which is recovering from a black decade, and has been the subject of a government bailout. following the financial crisis: it has engulfed a total of some 100 billion pounds to recover from taking into account the nationalization and losses incurred between 2008 and 2016.

"I am delighted that we have appointed Alison as our new Executive Director, bringing her extensive experience and track record of success in her previous roles," commented Howard Davies, Chairman of the RBS Board, in the statement. .

Ross McEwan leaves behind "a bank that has refocused on its core markets in the UK and Ireland and has solved most of its major legal problems, while returning to profitability," he said. added.

In particular, RBS settled several lawsuits by paying a large $ 5 billion fine in 2018 to the US Department of Justice for its actions prior to the 2008 crisis.

Rose, described as a strong advocate of diversity in the banking industry, has been commissioned by the UK government to lead a report on the barriers women face in setting up businesses.

RBS says Rose will receive a base salary of £ 1.1m per annum with an equivalent fixed share allocation, in the order of what her predecessor was receiving, plus a bonus linked to long-term performance that could to reach 175% of his salary.

- Handful of women leaders -

The new boss of RBS, who is part of a handful of women at the head of FTSE 100 companies, called his appointment "a huge honor", considering opening "a new chapter for this bank".

She also pointed out that "the industry faces a series of challenges, from persistent economic and political uncertainties to changes in consumer behavior and expectations triggered by rapid technological advances".

In addition to the lowest interest rates and stiff competition for home loans, traditional banks such as RBS, one of the oldest in Britain, are increasingly being challenged by online banks or technology. payments per application.

RBS, during its extensive post-financial crisis restructuring and deep cuts in its workforce, has largely emerged from the investment banking business, which now accounts for less than 10% of its turnover.

With Lloyds Banking Group, it is therefore one of the UK's most vulnerable financial institutions at Brexit because it is very dependent on the UK economy. She had warned in the spring that she was expecting a "huge impact".

In the second quarter, however, RBS had seen its net profit soar and decided to reward its shareholders.

The state plans for it to gradually withdraw in the coming years, despite the weakness of the stock market which is well below that of the price paid during the nationalization.

© 2019 AFP