RBS strengthens US team

The Royal Bank of Scotland Group has made new appointments to its US-based team and announced the creation of a unified management team to take advantage of growth opportunities
across and between its businesses in the US.

Lawrence K. Fish, currently chairman and CEO of Citizens Financial Group (Citizens), will become chairman, RBS America and will continue to serve on the board of RBS. He will be supported by a management team led by Ellen Alemany.

Ellen Alemany has joined from Citigroup and will become CEO, RBS America in which capacity she will report to group chief executive, Sir Fred Goodwin and be a member of RBS’s Group executive management committee.

Ellen Alemany has 30 years experience in global banking and was most recently CEO, Global Transaction Services and a member of Citigroup’s Operating Committee.

Stephen D. Steinour, who is currently President of Citizens, will become CEO and President of Citizens. Jay Levine will continue in his role as CEO of RBS Global Banking & Markets (GBM) business in the US, which includes RBS Greenwich Capital.

Commenting on the appointments, Sir Fred Goodwin, group chief executive of RBS, says: “These management appointments represent a logical and natural step in the development of our activities in the US as our businesses work more closely together.

“Our American operations have scale, diversity and geographic
reach, providing us with significant options for further growth, and these appointments position us well for the next phase of that growth.

“Larry has been pivotal in building our businesses in the US and will continue to play a central role. Ellen’s credentials and experience make her an ideal candidate for this new role and for the challenges and opportunities that lie ahead as we step into a new phase in the development of our activities in the US.”

Commenting on the appointments Larry Fish, Chairman, RBS America adds: “We have achieved extraordinary growth in the US. The combination of our locally based management team and the global strength of RBS has taken us from a position of fifth largest bank in Rhode Island in 1988 to one of the top ten commercial banks in the US today.

“We have a more diverse franchise and a broader range of growth options than ever before. This new structure will enable our customers, shareholders, colleagues and communities to reap even greater benefits from the combined strengths of our businesses in the US.”

Ellen Alemany adds: “I am excited to be joining this outstanding organisation at such an important stage in its development.

“I am delighted and grateful for the opportunity to work with Sir Fred, Larry and other colleagues at RBS to further integrate and develop what is already one of the top financial institutions in the US.”