Royal Bank of Scotland Group Plc, Britain’s biggest publicly owned lender, named the head of its UK consumer unit chief executive officer as the government presses the lender to shrink its investment bank, Bloomberg reported.
Ross McEwan, 56, will replace Stephen Hester on 1 October, the lender said in a statement on Friday as it swung into profit in the first half. Net income was £535 million ($809 million) compared with a £2 billion loss in the year-earlier period. That missed the £605 million estimate of Mark Phin, an analyst at Keefe, Bruyette & Woods Ltd.
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