- Title: First woman to head major UK bank, Alison Rose, appointed
- Date: 20th September 2019
- Summary: LONDON, ENGLAND, UNITED KINGDOM (FILE) (REUTERS) RBS BUILDING EXTERIOR EXTERIOR WITH RBS SIGN
- Embargoed: 4th October 2019 12:29
- Keywords: Royal Bank of Scotland RBS Alison Rose CEO banking equality
- Location: LONDON, ENGLAND UNITED KINGDOM
- City: LONDON, ENGLAND UNITED KINGDOM
- Country: United Kingdom
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001AXGQLQL
- Aspect Ratio: 16:9
- Story Text: Royal Bank of Scotland named Alison Rose as its new chief executive on Friday (September 20), becoming the first major British lender to appoint a woman to its top job. Rose, who was widely tipped to get the role at the state-backed lender, will succeed outgoing CEO Ross McEwan on November 1. He is due to join National Australia Bank as their next chief executive.
Rose has worked at the bank for 27 years and takes on the role at a pivotal time for the lender, as British banks prepare for the economic fallout if Britain leaves the European Union without a deal next month. She will also be tasked with further patching up RBS's damaged reputation and trying to return the bank to private hands, more than a decade after its 45 billion pound state rescue in the financial crisis.
"Following a rigourous internal and external process, I am confident that we have appointed the best person for the job," RBS Chairman Howard Davies said in a statement.
Rose will receive a fixed base salary of 1.1 million pounds ($1.38 million) a year plus a fixed share allowance set at 100% of her salary. That's up slightly from McEwan who has a base pay of 1 million pounds a year, plus a 100% fixed share allowance. RBS said Rose's pay package "continues to represent a restrained pay position in terms of comparable roles".
Rose has risen through the RBS ranks from a trainee to deputy CEO of the lender's biggest business NatWest, as well as head of its commercial and private lending. She also won plaudits for leading a government-commissioned review into the barriers holding back female entrepreneurs. The appointment means RBS will be led by two women in its top executive roles, after Katie Murray was promoted to the chief financial officer role in January.
(Production Hywel Davies)
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