London (AFP)
Royal Bank of Scotland (RBS) announced Friday the choice of its new leader, Alison Rose, who becomes the first woman to lead one of the major UK banks.
Ms. Rose, who had previously been head of the NatWest subsidiary and has worked in the band for 27 years, was a favorite to succeed Ross McEwan. She will take office on November 1st.
Mr. McEwan, who has largely restructured the bank, now majority owned by the government, will take the lead by the spring of 2020 from the National Australia Bank (NAB).
"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 key markets in the UK and Ireland and has solved most of its major legal problems, while returning to profitability," he said. added.
Rose described the appointment as "a huge honor," saying "we are starting a new chapter for this bank."
She also points out that "our industry faces a series of challenges, from persistent economic and political uncertainties to changing consumer behavior and expectations triggered by rapid technological advances".
In addition to the lowest interest rates, traditional banks like RBS, one of the oldest in Britain, are facing increased competition from online banks or even smartphone apps.
RBS, during its extensive post-financial crisis restructuring, has largely moved away from investment banking, which now accounts for less than 10% of its turnover.
With Lloyd's, it is one of Britain's most vulnerable financial institutions at Brexit because it is very dependent on the UK economy.
In the second quarter, however, RBS had seen its net profit soar and decided to reward its shareholders.
© 2019 AFP