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RBS finance director to step down by October

RBS finance director to step down by October

Royal Bank of Scotland Group PLC said Tuesday that its finance director will step down by October, almost completing a clear-out of the directors who presided over the bank's near-collapse last year.
Guy Whittaker will continue in his post until a successor is found, the bank said.
Whittaker, 52, formerly group treasurer for Citigroup, joined RBS in February 2006.
He and Gordon Pell, the deputy chief executive, were the last two executive directors on the board who had served with former chief executive Fred Goodwin, who resigned last year.
Goodwin was blamed for pursuing a financially disastrous takeover of the Dutch Bank ABN Amro, which plunged RBS into a British record loss of 24.1 billion pounds ($36.2 billion) in 2008.
The government stepped in to rescue the bank, and now holds 70.3 percent of its shares.
Whittaker was paid a base salary of 829,000 pounds in 2008, and he received an additional 282,000 pounds in lieu of pension benefits.
Stephen Hester, the bank's chief executive, said Whittaker "has given everything to assist our creation of a new direction for RBS and give it the best chance of success."
"Now that we have passed the 2008 year end and are fully focused on the three to five year journey ahead to standalone health, it is a logical time to make changes," Hester said.
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http://www.rbs.com


Updated : 2021-04-14 14:26 GMT+08:00