NAB’s new chief executive Ross McEwan may be returning to Australia and starting at the bank sooner than expected thanks to a recent RBS’ announcement.
Over the weekend it was reported that the RBS has appointed Alison Rose, subject to regulatory approval, to the role of CEO.
The appointment still must be approved by the regulators that have the right to veto bank executive appointments, but if it passes Ms Rose will be the first woman to lead a major British bank.
For NAB, the appointment means that Mr McEwan can start with the major bank sooner than anticipated after it was announced last month that he would take on the role of CEO.
At the time NAB reported that Mr McEwan would start no later than April 2020 when his obligations to RBS were wrapped up, at the time the Scottish bank was still searching for his replacement.
Ms Rose will have a tough act to follow as Mr McEwan is credited with turning around the bank’s fortunes, even going to post the banks first profit in 2017 after a decade of losses.
RBS has still not confirmed that it has appointed Ms Rose who currently runs the banks commercial arm and has worked at the bank for 25 years.
“The process to appoint Ross McEwan’s successor is ongoing. Our next CEO will be confirmed in due course, once an appointment has been made,” said an RBS spokesperson.
It is believed that Ms Rose beat off several high-profile candidates including HSBC’s UK boss Ian Stuart and former RBS chief operation officer Mark Bailie.
Ms Rose has had a high-profile career, overseeing the development of Mettle, a digital-only bank for SMEs and leading the Treasury inquiry into the barriers facing female entrepreneurs.
If Ms Rose gets the job she will most likely lead the bank to full privatisation, as the government is expected to sell its 62 per cent stake by 2024.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]
A new UBS report has said that regulators getting tougher on capital is a threat to dividends, particularly those of the major banks. ...
Platinum Asset Management saw its profit fall by 16.7 per cent during financial year 2019, with the group saying it experienced “challengi...
Wilson Asset Management Capital has reported an operating profit after tax of $14.5 million in the 2019 financial year, plunging by 88.4 per...