Royal Bank of Scotland has named the head of its U.K. consumer unit chief executive officer as the government presses the lender to shrink its investment-banking operation.
Net income was $809m, up from a $3.02bn loss in the year-earlier period.
The Financial Times reports that McEwan is regarded as one of the outstanding retail bankers of his generation.
Fans say he is the right person to take RBS into the next phase of its restructuring - towards a more focused retail and commercial bank.
'He’s a very good leader and organisations that require significant change and are coming out of crisis need that', says the former CEO of the Commonwealth Bank of Australia Ralph Norris. 'He’s a particularly talented individual'.
McEwan hailed as outstanding leader of people (subscriber content)
image: © Elliot Brown