Royal Bank of Scotland Group plc (LON:RBS) have updated the market on Thursday, about a new interim CEO appointment of their investment arm Natwest Markets PLC.
RBS have been busy in the last few months of trading, as we approach the end of 2019.
Earlier this week, the bank was put into bad media spotlight along with Lloyds as it failed the Bank of England stress test, a rigorous test which puts operations and management to the griddle.
Additionally, RBS announced that they would be launching their digital banking platform Bó.
At a time where startups such as Monzo and Starling Bank have made significant grounds in the mobile banking industry, RBS felt the need to catch up.
In similar fashion, HSBC also announced that they will be launching HSBC Kinetic.
HSBC Kinetic will offer small businesses mobile-managed current accounts, overdrafts and spending and cashflow insights generated by the app crunching data on a company’s spending habits.
Today, RBS have said that they appointed RBS Treasurer Robert Begbie as interim chief executive officer of the bank’s investment arm Natwest Markets PLC.
He will replace Chris Marks who steps down from his role after three years, but will remain with the group until June 2020 to assist with transition.
RBS Treasury Finance Director Robert Horrocks will be appointed as interim chief financial officer of Natwest Markets. He will replace Richard Place, who will leave the group on March 2020, after four years in the role since 2015.
“The directors of RBS and NatWest Markets and I would like to thank Chris and Richard for their commitment and dedication to this bank, its staff and its clients. They have set the foundations for the continuing transformation and simplification across NatWest Markets as RBS has been re-shaped to focus on serving its customers in the UK and Ireland, whilst also managing complex organisational changes around ring-fencing and Brexit,” said Chief Executive Alison Rose.
The bank will be put under rigorous scrutiny when it announces its annual results on February 14 2020, and shareholders will eagerly await the outcome.
Shares in Royal Bank of Scotland Group plc trade at 248p (-0.04%). 19/12/19 10:21BST.