Royal Bank of Scotland Group (LON:RBS) has appointed Alison Rose as the deputy chief executive and a director of NatWest Holdings, in addition to her existing role as CEO of the FTSE 100 company’s commercial and private banking division, the blue-chip lender has said. The Times noted in its coverage of the news that the move was taken as a strong signal that she is the most likely candidate to replace chief executive Ross McEwan when he retires.
RBS’ share price has fallen deep into the red in today’s session, having given up 7.26 percent to 230.10p as of 10:31 GMT, underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.02 percent lower at 7,032.62 points. The group’s shares have given up more than 16 percent of their value over the past year, as compared with about a 4.6-percent drop in the Footsie.
Alison Rose in new role
RBS said in a statement yesterday that it had appointed Alison Rose as the Deputy CEO and a Director of the group’s ring fenced holding company NatWest Holdings.
“Alison has been doing a fantastic job leading our Commercial and Private Banking division and cementing our position as the UK’s biggest and best bank for business,” CEO Ross McEwan commented in the statement.
The lender noted that in her new role, Rose will deputise for McEwan both internally and externally, as appropriate, including at NWH ExCo, and will further lead on key strategic projects. Her new responsibilities will take effect from December 3.
Analysts on FTSE 100 group
JPMorgan Chase & Co reaffirmed RBS as a ‘neutral’ today, while earlier this month, Deutsche Bank reiterated its ‘buy’ rating on the shares. According to MarketBeat, the blue-chip lender currently has consensus ‘buy’ rating and an average price target of 312.50p.