Fred Goodwin announces first key appointments for Royal Bank of Scotland Group

6 March 2000

Fred Goodwin, who takes over as Chief Executive of The Royal Bank of Scotland Group today following the acquisition of NatWest, has announced a series of senior management appointments for the enlarged Royal Bank of Scotland Group.

As announced in the Group’s Offer Document, the new Group will consist of seven customer-facing divisions, each led by a chief executive.

Mr Goodwin said: "During the course of the bid we told investors that we would deliver on our promises. Our plan for days one to thirty contained a commitment to making appointments of key executives, and on day one we are announcing the Chief Executives of all our customer facing divisions. These key appointments are our highest priority because clear leadership and support for our frontline staff is of critical importance to the future growth and development of the Group. Our focus now is on appointments to lead our head office group departments and the manufacturing division."

Iain Robertson becomes Chief Executive, Corporate Banking and Treasury, responsible for all corporate banking activities currently within The Royal Bank of Scotland, NatWest, and Greenwich NatWest. Currently Chief Executive of The Royal Bank of Scotland’s UK Bank, Iain Robertson  joined The Royal Bank of Scotland Group in 1992 as Managing Director, Corporate and Institutional Banking, from NatWest where he was Deputy Chief Executive and Group Finance Director of County NatWest.

Iain Robertson led the creation of new businesses in acquisition finance, structured, project and leveraged finance and in development and mezzanine capital. Under his management the Royal Bank became a leading player in payment services in the UK. In 1998 he was appointed Chief Executive of the newly constituted UK Bank, covering retail, corporate and institutional banking businesses.

Gordon Pell is Chief Executive, Retail Banking, responsible for personal and small business banking and life assurance subsidiaries for The Royal Bank of Scotland and NatWest networks.

Mr Pell  was appointed Chief Executive Officer, UK Banking, at NatWest on 1 February 2000, having joined from Lloyds Bank. A career banker, he joined Lloyds Bank in 1971 and held a number of senior appointments in branch banking, regional banking, corporate banking, internal audit, corporate finance and strategic planning. He was appointed Group Director, UK Retail Banking, in 1998.

Norman McLuskie is Chief Executive, Retail Direct, responsible for businesses which include The Royal Bank of Scotland and NatWest card services, Direct Line Financial Services, and a range of joint ventures, including Tesco Personal Finance, and Virgin Direct Personal Finance.

Mr McLuskie  is currently Deputy Chief Executive, UK Bank at The Royal Bank of Scotland, responsible for the UK Bank’s support and IT services, and for a range of customer-facing businesses and joint ventures. A chartered accountant, Mr McLuskie joined the Group in 1982.

Cameron McPhail is Chief Executive, Wealth Management, and takes responsibility for a range of private and offshore banking businesses, include Coutts & Co, Adam & Co, The Royal Bank of Scotland International, and Coutts Offshore.

Mr McPhail  is currently Chief Executive of The Royal Bank of Scotland International, based in Jersey, and responsible for the Group’s offshore banking businesses. He joined the Group from Locate in Scotland and was responsible for the major Change Programme, Project Columbus, which between 1992 and 1997 re-engineered the delivery of service to the Bank’s retail customers. He was subsequently responsible for the creation of The Royal Bank of Scotland International, integrating and developing the Bank’s offshore operations in Jersey, Guernsey, the Isle of Man, Nassau, and Gibraltar.

Ian Chippendale remains as Chief Executive, Direct Line, responsible for Direct Line Insurance, Privilege, Green Flag, the roadside assistance business acquired last year, and Linea Directa, a motor insurance joint venture which is Spain’s fastest growing general insurer.

Mr Chippendale was a main board director of Provident Financial before joining Privilege Insurance in 1994 as its founder Chief Executive. He was appointed Chief Executive of Direct Line Group in 1997.

Larry Fish remains as Chairman, President and Chief Executive Officer of Citizens Financial Group, the Royal Bank’s US subsidiary, which is the second largest banking group in New England, and one of the 35 largest in the United States.

Mr Fish  is a Harvard MBA and graduate of the London School of Economics. His banking career has included senior positions in Brazil, Japan, Hong Kong, the UK and US. He took up his present position in 1992, since when Citizens has increased six-fold in assets, grown to more than 350 branches, and completed 15 acquisitions.

Martin Wilson remains as Chief Executive of Ulster Bank, a position he has held since 1998. Mr Wilson was educated in Dublin and is a qualified chartered accountant.

A former senior audit manager with KPMG, he became chief accountant with the shipping company Bell Lines Ltd, before joining Ulster Bank Group in 1980 as Financial Controller of Ulster Investment Bank. He subsequently held a number of senior positions within Ulster Bank Group, including Group Treasurer and Chief Executive of Ulster Bank Markets.