RBS finance chief confirms exit from state-owned bank in September to take up same role at rival lender HSBC
- Ewen Stevenson surprised investors with his decision to quit hours before AGM
- Deputy finance boss Katie Murray will take up his role in the interim
Royal Bank of Scotland confirmed today that its chief financial officer Ewen Stevenson will step down at the end of September to take up a post at rival bank HSBC.
News of his resignation came unexpectedly before the state-owned lender’s AGM in May with the departure timetable now confirmed.
Katie Murray, its deputy finance boss, will take up Stevenson’s post in the interim, while the search continues for a successor.
Money in the bank: Ewen Stevenson will leave RBS in September to join rival HSBC
Stevenson will remain on the RBS board until the end of September before being placed on gardening leave until the end of his employment on November 30.
Thereafter he will be free to join HSBC where he is to become the group’s finance boss.
In a statement, HSBC chief executive John Flint said: ‘Ewen is a highly experienced executive with a proven track record as a chief financial officer. He is both a strategic thinker and a highly accomplished expert in his field.
‘He brings a wealth of international experience and will be a welcome addition to the senior management team.’
Upon joining HSBC, Stevenson will receive shares worth up to £9m to compensate him for RBS stock he will no longer get under various long-term bonus schemes.