C Suisse promotes two as RBS hires its EMEA investment banking co-head

RBS building

Royal Bank of Scotland has hired Ewen Stevenson from Credit Suisse as Chief Financial Officer.

Bloomberg reports that Stevenson, 47, co-head of Credit Suisse’s investment bank in Europe, the Middle East and Africa, will take up his role on May 19, RBS said in a statement Friday. 

'The fact that Ewen has been co-head of global financials and co-head of Europe creates the width of experience that the CFO at RBS needs', said Chirantan Barua, analyst at Sanford C. Bernstein Ltd. in London who rates RBS an outperform. That 'goes from dealing with regulators and litigation at risk in the U.S. to wide-ranging discussions in Europe across clients and regulators'.

Stevenson replaces Nathan Bostock, who resigned in December after two months in the job to become deputy CEO of Banco Santander’s U.K. division. Bostock had replaced Bruce Van Saun, now head of RBS’s Citizens Financial Group Inc. unit in the U.S., which last week failed the Federal Reserve’s stress test. 

Credit Suisse has appointed Alejandro Przygoda head of the global financial institutions group (FIG) at its investment bank and Mark Echlin as co-head of its investment bank in Europe, according to an internal memo seen by Reuters.

The news agency reports that the appointments fill vacancies created by the departure of Stevenson.

RBS Hires Credit Suisse's Ewen Stevenson as CFO

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