for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

RBS clears out top executives at investment bank NatWest Markets

LONDON, Dec 19 (Reuters) - Royal Bank of Scotland has cleared out the top management team at its under-performing investment bank NatWest Markets, in one of the first moves to shake up the state-backed bank’s executive team by new Chief Executive Alison Rose.

NatWest Markets’ CEO Chris Marks and CFO Richard Place have both stepped down, the lender said in a statement on Thursday.

An internal and external search has begun for their replacements, the bank added.

Robert Begbie and Robert Horrocks have been appointed interim CEO and CFO respectively. (Reporting by Iain Withers, editing by Sinead Cruise)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up