Royal Bank of Scotland has named Rob Allen as head of commercial banking at its Williams & Glyn spin-off.
Allen joins from HSBC Commercial Banking, where he most recently held the role of managing director of financial sponsor coverage for the UK and Europe.
He is also executive director at The Boat Race Company, which is responsible for staging the annual boat race between Cambridge and Oxford. In this voluntary role, he is accountable for financial management and the race’s relationships with public bodies and sponsors.
As managing director of commercial at Williams & Glyn, Allen will report to chief executive Jim Brown. He is due to take up the role on 4 May, subject to regulatory approval.
Allen said: “Williams & Glyn has a very strong commercial business, which I am delighted to have been offered the chance to lead. I look forward to joining Jim Brown’s team soon and to playing a key role in serving the businesses who already bank with us, and also in attracting new customers to Williams & Glyn.”
Brown added: “I’m really pleased to have Rob on board at Williams & Glyn. He brings a wealth of experience from a wide range of roles within business and financial services which will be a real asset to the team.”
RBS has to sell Williams & Glyn by the end of 2017 as a condition of its state bailout. The group said it continued to prepare for the spin-off of the business, which serves 1.8 million customers with net loans and advances of £20 billion and customer deposits of £24bn.