19th Dec 2019 08:29
(Alliance News) - The Royal Bank Of Scotland Group PLC said Thursday it has appointed RBS Treasurer Robert Begbie as interim chief executive officer of the bank's investment arm Natwest Markets PLC.
He will replace Chris Marks, who is stepping down from his role after three years since 2016, but will remain with the group until June 2020 to assist with an orderly transition.
RBS Treasury Finance Director Robert Horrocks will be appointed as interim chief financial officer of Natwest Markets. He will replace Richard Place, who will leave the group on March 2020, after four years in the role since 2015.
Begbie has been treasurer at RBS for two years since 2017. Horrocks has been the finance director at the RBS Treasury for the same period of time. RBS Head of Treasury Markets Donal Quaid, has been appointed as interim RBS Treasurer.
RBS said it has started an internal and external search for permanent replacements for Marks and Place.
"The directors of RBS and NatWest Markets and I would like to thank Chris and Richard for their commitment and dedication to this bank, its staff and its clients. They have set the foundations for the continuing transformation and simplification across NatWest Markets as RBS has been re-shaped to focus on serving its customers in the UK and Ireland, whilst also managing complex organisational changes around ring-fencing and Brexit," said Chief Executive Alison Rose.
RBS said it will publish its annual results on February 14, 2020. It said there is no update to performance at this time.
Shares in RBS - which is headquartered in Edinburgh - were up 0.1% at 248.90 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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