The Deal
Saturday, November 21, 
5:53 pm

RBS brings in fresh blood

  Share     E-Mail    Discussion    Print Story
rbs.gifRoyal Bank of Scotland Group plc is bringing in three new nonexecutive directors in response to the criticism of CEO Fred Goodwin. 

Continue reading below

Also on Dealscape

The new directors are Stephen Hester, John McFarlane and Arthur Ryan. Two existing nonexecutives directors, who are former Royal Bank executives, Lawrence Fish and Charles Koch, will be stepping down.

Hester is CEO of British Land Co. plc and was previously COO of lender Abbey National plc. McFarlane was CEO of the Australia and New Zealand Banking Group Ltd. from 1997 until 2007 while Ryan was CEO and president of Newark, N.J.-based Prudential Financial Inc. until earlier this year.

In April Goodwin faced calls for his resignation after the bank launched a £12 billion ($22 billion) rights issue -- after insisting in February it had no need for fresh funds. Earlier this month the bank posted its first-ever six-month loss. - Neil Sen

TheDeal.com's: RBS brings in fresh blood
TheDeal.com's:RBS looks to sell unit



Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.