RBS set for banking milestone by naming Murray as CFO


The state-backed Royal Financial institution of Scotland (RBS) is poised to call Katie Murray as its finance chief, a‎n appointment that will signify a milestone within the male-dominated boardrooms of the UK’s greatest lenders.

Sky Information understands that RBS is awaiting clearance from the Prudential Regulation Authority (PRA), the banking watchdog, to announce Ms Murray as its chief monetary officer.

She has been within the position on an interim foundation because the summer time, when Ewen Stevenson left to hitch HSBC Holdings.

Sources stated an announcement about Ms Murray’s appointment to the everlasting position may come as early as this week.

The performing finance chief is alleged to have impressed colleagues and Metropolis analysts throughout her transient stint within the publish, which has coincided with a turbulent interval for shares in RBS and the broader banking sector amid deepening Brexit uncertainty.

Ms Murray had been seen 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.

If her appointment is authorized by regulators, Ms Murray might be a part of the workforce 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.

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 Murray and Ms Rose each landed these jobs, it will be a landmark second in British banking with ladies holding the highest two government posts.

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

Earlier this 12 months, the Treasury lowered its shareholding to 62.four% by offloading a 7.7% stake to institutional buyers.

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

RBS declined to touch upon ‎Tuesday.