Former Commonwealth Bank executive Ross McEwan is a favourite to replace ousted Royal Bank of Scotland CEO Stephen Hester and could be appointed to the top job within weeks, according to reports.
RBS has been looking for a new CEO since Hester resigned in June, following pressure by chairman Philip Hampton and finance minister George Osborne.
The bank is 81% owned by the UK Government.
The Telegraph reports that McEwan’s potential appointment as CEO is subject to the approval from the RBS board, UK Financial Investments, the Prudential Regulatory Authority and the Financial Conduct Authority.
McEwan left CBA to join RBS as chief executive, UK Retail in August. He was previously tipped as a favourite to replace Ralph Norris as CBA’s CEO and was reportedly interviewed for the top job, which eventually went to Ian Narev.
Other candidates for the RBS role are thought to be RBS finance director Bruce van Saun and BlackRock executive Mark McCombe but the latter has ruled himself out of the process, the WSJ reported last week.
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