17th Aug 2018 07:50
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC said Friday that it promoted Deputy Chief Financial Officer Katie Murray to the role of interim chief financial officer with effect from October.
Murray will take over the role from Ewen Stevenson who will depart from its role of chief financial officer on September 30, after joining the company in 2014, the FTSE 100-listed bank said.
RBS added that the search for a successor to take over the role of finance chief permanently is underway, and the bank will make an announcement in due course.
The bank said that Stevenson will maintain his role until the end of September to facilitate an orderly handover to Murray, and then, he will be placed on gardening leave - a suspension from work on full pay - until his contract with RBS ceases at the end of November.
Stevenson will continue to receive his salary until November 30, but he will not receive "any compensation for loss of office", RBS added.
RBS had announced earlier in May that Stevenson was stepping down from its role to take up an opportunity elsewhere. The bank however, had left the date of his departure unspecified.
Earlier this month, HSBC Holdings PLC said Stevenson will replace Ian Mackay as group finance director from January. He will join the bank as designate finance director from the start of December.
Meanwhile, Mackay is moving to drug maker GlaxoSmithKline PLC as its new chief financial officer.
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