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*Home > Group Information > Press Releases > Press Releases 2000 > March > Board Changes At The Royal Bank Of Scotland Group plc
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Press Releases

Board Changes at the Royal Bank of Scotland Group plc

6 March 2000

Following the successful completion of the acquisition of National Westminster Bank Plc ("NatWest") and as explained in its Offer of 16 December 1999, The Royal Bank of Scotland Group plc ("Royal Bank Group") announces the following board changes with effect from 6 March 2000;

Viscount Younger of Leckie will become Non-executive Chairman;

Sir George Mathewson has been appointed Executive Deputy Chairman; and

Fred Goodwin has been appointed Group Chief Executive.

In addition, the following customer facing Executive Director appointments have been made;

Iain Robertson who was formerly Chief Executive, UK Bank has been appointed Chief Executive, Corporate Banking and Treasury;

Gordon Pell, formerly Chief Executive Officer, UK Banking, NatWest has joined the Royal Bank Group Board as Chief Executive, Retail Banking;

Norman McLuskie previously Deputy Chief Executive, UK Bank has been appointed Chief Executive, Retail Direct; and

Larry Fish will continue in his role as Chairman, President and Chief Executive Officer of Citizens Financial Group.

Any additional Executive Director positions arising from appointments to group central functions will be announced before the end of March.

The current Non-executive Directors of the Royal Bank Group will continue in office and details of the Non-executive board members with effect from 6 March 2000 are attached.

Commenting on these changes, Viscount Younger said:

"We were delighted to have been able to announce earlier today completion of the acquisition of NatWest, with 89.04 per cent acceptances received from NatWest shareholders. The success of the acquisition was principally due to the efforts of George Mathewson and Fred Goodwin and I am particularly pleased to be able to congratulate them on their appointments as Executive Deputy Chairman and Group Chief Executive of the Royal Bank Group.

George Mathewson and I look forward very much to working with Fred and his executive team, to which today we welcome Gordon Pell. We are sure that under Fred's leadership the executive will deliver the expected benefits for shareholders of this acquisition.

I also wish to thank Sir David Rowland and his board colleagues at NatWest for their co-operation and assistance during the transition period since our offer was declared unconditional as to acceptances on 14 February 2000.

Both The Royal Bank of Scotland and NatWest brands will remain on the high street, with the enlarged group being known as The Royal Bank of Scotland Group."

Non-executive Directors of the new Royal Bank Group Board

Viscount Younger - Chairman

Sir Iain Vallance - Vice-chairman

Sir Angus Grossart - Vice-chairman

Emilio Botin - Non-executive Director

Ian Grant - Non-executive Director

Juan Inciarte - Non-executive Director

Eileen Mackay - Non-executive Director

Cameron McLatchie - Non-executive Director

Murray Stuart - Non-executive Director

Bill Wilson - Non-executive Director
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