By Oliver Griffin 
 

Royal Bank of Scotland Group PLC (RBS.LN) on Friday said it has appointed Alison Rose as CEO and that she will take over the role at the start of November.

The majority state-owned U.K. lender said that Ms. Rose, who is currently the deputy chief executive of Natwest Holdings and CEO of RBS's Commercial and Private Banking, will also be appointed as an executive director and will take over after Ross McEwan steps down on Oct. 31.

Ms. Rose will also be appointed as executive director and CEO of NatWest Holdings Ltd, The Royal Bank of Scotland PLC, National Westminster Bank PLC and Ulster Bank Ltd., the company said.

RBS said Ms. Rose's base salary will be 1.1 million pounds ($1.4 million) a year, which will be accompanied by a fixed share allowance set at 100% of salary and standard benefit funding of GBP26,250 a year. Under the RBS's long-term incentive awards, Ms. Rose can earn a maximum award of 175% of salary, paid in shares, the bank said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

September 20, 2019 02:31 ET (06:31 GMT)

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