RBS ‘poised’ to name McEwan as new boss

Royal Bank of Scotland remained tight-lipped this morning over reports that it is poised to name Ross McEwan, its head of retail banking, as successor to chief executive Stephen Hester.

The Edinburgh-based lender is said to be in late-stage talks with the Bank of England’s Prudential Regulation Authority over the appointment of the New Zealander, which would require approval from the watchdog.

Hester announced his resignation from the role in June, amid speculation that he had been forced out at the behest of the Treasury, which ultimately controls an 80 per cent stake in the bailed-out bank.

News of his appointment could come as early as today, ahead of the lender’s half-year results tomorrow.

A spokesman for the bank declined to comment.

McEwan joined RBS as head of retail banking last year after holding a similar position at Commonwealth Bank of Australia.

Previous speculation had suggested Mark McCombe, a senior fund manager at BlackRock, as the frontrunner to lead RBS, but he recently ruled himself out for the job.