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Bank charges: RBS boss in shock departure

Chief executive of the Royal Bank of Scotland (RBS) Stephen Hester has announced he will be stepping down, raising questions as to who will lead the bank in his stead.

Upon Mr Hester's announcement, shares in the bank tumbled as investors were faced with uncertainty.

This could be a step back for the government's plan to see the bank privatised again, as it is currently around 80 per cent owned by the taxpayer.

Mr Hester's successor will have to provide strong leadership when overseeing the public stake in RBS. With such negative press on the bank ever since its bail out during the financial crisis, chairman Philip Hampton may have a difficult time finding someone to take over.

While Mr Hester has come under fire for his remuneration package, RBS continues to face criticism for continuing to pay out big bonuses to staff as it is still owned by the taxpayer.

Involvement in the Libor fiasco and PPI claims have further tarnished the state-owned bank's image.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801598620-ADNFCR

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