RBS veteran to join Nationwide as chairman of risk committee

A ROYAL Bank of Scotland veteran is to take up a new role overseeing risk issues for the Nationwide Building Society, it was announced yesterday.

Alan Dickinson, chairman of RBS's corporate banking division, is to retire next month after 37 years at the bank and will join Nationwide's board as a non-executive director and chair of its board risk committee.

Until last year, Dickinson headed the RBS arm responsible for its UK branch networks, mortgage and credit card businesses as well as commercial banking activities.

Geoffrey Howe, chairman of Nationwide, which is the UK's biggest building society and last year rescued Dunfermline Building Society in a UK government-backed deal, said Dickinson would make a "major contribution" to the business.

"He brings with him a wealth of experience gained while working in the financial services industry for many years," he added.

The risk committee sets lending and borrowing controls for the building society.

During Dickinson's career at RBS, he has held a number of executive management positions within retail and corporate banking.

He also has a background in risk management and has served as a member of RBS's group risk, and retail and corporate banking audit committees. In 2009, he was appointed chairman of the global banking and markets audit committee.

This week, Nationwide announced that profits for the year to 4 April had slumped 46 per cent to 212 million, with the society saying customers lingering on its low mortgage rate were costing it more than 450m a year. It also said it was taking tough action on costs to help limit profit declines, including possible cuts in its 20 regional centres.

The society's full-year accounts revealed Nationwide spent 62m rescuing Dunfermline's core business.