Hostage to fortune

12 August 2019 By Christopher Thompson Follow @CGAThompson

The UK state-controlled bank has selected 25-year RBS veteran Alison Rose as boss, according to media reports. An insider makes sense for a market leader with limited strategic options. RBS cannot get much larger, and can do little about the economy, UK politics or Brexit.

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Royal Bank of Scotland will name Alison Rose as chief executive officer in the coming weeks, according to a Reuters report on Aug. 10, citing Sky News.

Rose is the head of RBS's commercial operation. Analysts have considered her a leading candidate to succeed Ross McEwan, who has been CEO since October 2013. In April the chairman of the state-controlled bank, Howard Davies, said the board would consider external as well as internal candidates.

The UK-based lender did not respond to a request for comment.

RBS shares were down by 0.7% at 203 pence by 0900 GMT on Aug. 12.

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