One of Britain's biggest banks has appointed its first female CEO
- RBS has appointed Alison Rose as CEO, making it the first of Britain's "big four" banks to have a female leader.
- Rose, who joined RBS as a graduate trainee 27 years ago, will earn £1.1 million ($1.4 million) a year - slightly more than her predecessor, according to the BBC.
- She currently heads up the bank's commercial and private banking division.
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One of Britain's biggest lenders has appointed its first female CEO.
RBS - one of the UK's "big four" banks along with Barclays, Lloyds, and HSBC - announced Alison Rose will take the reins from Ross McEwan at the end of October.Rose, who joined RBS as a graduate trainee 27 years ago, will earn £1.1 million ($1.4 million) a year - slightly more than her predecessor, according to the BBC. She currently heads up the bank's commercial and private banking division. As CEO, she will also take charge of RBS subsidiaries including NatWest, National Westminster Bank, and Ulster Bank.
The UK government is the majority owner of RBS, with a stake of 62%, as it bailed out the bank at a cost of £45.5 billion ($56.8 billion) during the financial crisis. Rose helped to rebuild the bank's balance sheet and return it to health following the crisis.
"Our industry is facing a series of challenges; from the ongoing economic and political uncertainty to shifts in the behaviour and expectations of our customers, driven by rapid advances in technology," Rose said in a press release.
"It will be my priority to make sure we are ready to meet these challenges and build the best bank for families, businesses and communities."