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RBS appoints new finance chief from Credit Suisse
April 4, 2014 / 6:30 AM / 4 years ago

RBS appoints new finance chief from Credit Suisse

LONDON (Reuters) - Royal Bank of Scotland (RBS.L) has appointed a new finance director, poaching Ewen Stevenson from Credit Suisse CSGN.VX where he was co-head of investment banking for Europe, the Middle East and Africa.

A logo from a Royal Bank of Scotland (RBS) branch is seen reflected in a window in the City of London March 6, 2013. REUTERS/Toby Melville

In a statement on Friday, RBS said Stevenson, 47, had been appointed executive director and chief finance officer at the lender, starting in the new role on May 19.

Stevenson’s career at Credit Suisse spanned 25 years and he was a senior member of the bank’s team advising the British government on its bailouts of RBS and Lloyds (LLOY.L) during the financial crisis.

He fills the post left by Nathan Bostock who quit last year to join rival Santander (SAN.MC).

    Stevenson’s appointment adds a second New Zealander to RBS’s top executive ranks alongside Ross McEwan, who took over as chief executive six months ago.

    Analysts at Bernstein Research said Stevenson’s role advising RBS and Lloyds “will give him a head start as to the idiosyncrasies of the RBS balance sheet and relation to its principal shareholder”.

    This, the analysts said, would balance the fact he does not have experience as a chief financial officer.

    Stevenson’s former Credit Suisse colleague, James Leigh-Pemberton, now runs UK Financial Investments, the body that manages the British government stake in RBS.

    Reporting by Chris Vellacott; Editing by David Holmes

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