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RBS names Credit Suisse investment bank boss as CFO

RBS names Credit Suisse investment bank boss as CFO

Royal Bank of Scotland has confirmed the appointment Ewen Stevenson as chief financial officer (CFO).

Stevenson joins from Credit Suisse on 19 May and fills the void left by the sudden departure of Nathan Bostock, who quit the bank after just two months as CFO for Banco Santander.

To date 47-year-old Stevenson has spent his entire 25-year career at Credit Suisse, more recently as co-head of the Swiss bank’s EMEA investment banking department and its global financial institutions group.  

Born in the UK and raised in New Zealand, Stevenson has extensive management and restructuring experience, which will prove crucial in state-controlled RBS’s bid to return to the private sector.

He has a deep understanding of the issues at RBS after serving - in 2008 and 2009 - as a senior member of the Credit Suisse team advising the Treasury on the recapitalisation of the bank, along with Lloyds. 

Stevenson was also involved in the good/bad bank restructuring at Northern Rock.

Commenting on the appointment, RBS chief executive Ross McEwan (pictured) told the stockmarket: ‘I am pleased to welcome Ewen to RBS. Ewen has spent many years working with the world's leading banks.

'In recent years he has been a trusted adviser to both governments and company boards on the steps needed to restore confidence in financial institutions following the crisis.' 

He added: ‘At RBS we are determined to re-earn the trust of our customers and our continued financial health is central to that task. Ewen shares our vision for building a great customer bank and I look forward to working with him.’

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