RBS names its first feminine finance director


State-backed Royal Financial institution of Scotland has named Katie Murray as its chief monetary officer, the primary feminine appointment to the position.

The announcement, confirming a choice first reported by Sky Information, represents a milestone within the male-dominated boardrooms of the UK’s largest lenders.

Ms Murray has been within the position on an interim foundation because the summer season, when Ewen Stevenson left to hitch HSBC.

She is claimed to have impressed colleagues and Metropolis analysts throughout her temporary stint within the put up, which has coincided with a turbulent interval for shares in RBS and the broader banking sector amid deepening Brexit uncertainty.

Ms Murray might be paid a base wage of £750,000 plus a set share allowance of £750,000 when she takes up the position on a everlasting foundation on 1 January.

She joined RBS as director of finance in November 2015 and beforehand held roles at Outdated Mutual and KPMG.

RBS Chairman Howard Davies stated: “I’m happy to welcome Katie to the RBS Board following a profitable interval as interim CFO.

“She has already contributed considerably to RBS during the last three years because the financial institution has resolved its final main legacy points, returned to revenue and restarted paying dividends.”

Ms Murray had been considered because the main inner candidate to exchange Mr Stevenson however confronted competitors from exterior contenders together with William Chalmers, a veteran monetary establishments banker at Morgan Stanley.

She might be a part of the group overseeing RBS’s implementation of the ring-fencing regime which comes into impact subsequent month, greater than a decade after the financial institution was rescued with £45.5bn of taxpayers’ cash.

Ms Murray stated: “I’m delighted to take up this position… as we proceed to construct a financial institution that’s easy and secure for purchasers, produces optimistic returns for shareholders and makes a serious contribution to the UK financial system.”

Ross McEwan, RBS’s chief government, is predicted to retire from the position in 2020, with Alison Rose, one other senior government on the group, the likeliest inner candidate to succeed him.

If Ms Rose have been to land that job, it could be a landmark second in British banking, with ladies holding the highest two government posts.

RBS’s restoration has been accelerating during the last 12 months because it has returned to revenue and restored dividend funds to shareholders a decade after its bailout.

Earlier this yr, the Treasury decreased its shareholding to 62.four% by offloading a 7.7% stake to institutional traders.

In his funds, Philip Hammond, the chancellor, outlined plans to promote the rest of the federal government’s stake in the course of the subsequent 5 years.