View more on these topics

Seven non-executive directors step down at RBS

Seven non-executive directors have retired from the Royal Bank of Scotland, as the group looks to downsize its board.

Bob Scott, Jim Currie, Bill Friedrich, Bud Koch, Janis Kong, Steve Robson and Peter Sutherland have retired from the board.

The board has been considering its future shape in recent months, especially in light of the commitment to appoint three new non-executive directors made at the time of the recapitalisation of the group in October 2008.

The board has determined that a restructured board with a smaller number of directors will be better able to engage effectively in the restructuring process for the RBS Group going forward.

The RBS board will now comprise of chairman, Sir Philip Hampton, group chief executive Stephen Hester, group finance director Guy Whittaker and
chairman, regional markets Gordon Pell

Non-executive directors are Colin Buchan, Archie Hunter, Joe MacHale, John McFarlane and Art Ryan.

Hampton says: “We are making good and purposeful progress in the restructuring of the group including the board. These have been very challenging times for RBS and throughout the company’s difficulties I know that the whole board served with great commitment and determination.

“With several directors completing two or more terms or otherwise wishing to retire, now is the right time to reduce the size of the board, whilst ensuring an appropriate level of continuity in its key committees.

“Everyone at RBS is fully focused on the task in hand; restoring the company to sustainable standalone strength and repaying the support of the UK taxpayer as quickly and effectively as is practicable.”


Paul Hogarth launches investment company

EPH Sverige plc, a newly incorporated Jersey closed-ended investment company has launched, aiming to provide the opportunity for investment in Swedish pre-let residential properties.The founders of EPH Partners LLP include Paul Hogarth, founder of both Bankhall Investment Management in 1987 and, more recently the IFA support services firm, Paradigm Partners. Hogarth is one of financial […]

When Murray met Huggy

US actor and TV star Antonio Fargas, pictured here with Lending Strategy editor John Murray, recently took a break from appearing in a pantomime near London to film a snipp- et for the magazine’s slot at the Building Societies Association’s conference in May.

Praxis joins AMPD

Praxis, a wholly owned subsidiary of the Melton Mowbray group has joined the Association of Mortgage Packagers and Distributors.

Beware of Titanic efforts to avoid economic icebergs

It’s a curious fact but the top tier of the Labour hierarchy seems to have a close affinity for things nautical while Conservative leader David Cameron is more bicycle clips and urban windmills.

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


News and expert analysis straight to your inbox

Sign up