Like its rivals in Britain, the Royal Bank of Scotland has been unable to escape criticism from shareholders over the amount of compensation that bankers are paid.
Christopher Fox joins UK Financial Investments Limited (UKFI) with responsibility for managing HM Government’s interests in the Bradford & Bingley (B&B) and Northern Rock Asset Management (NRAM) portfolios; together ‘UK Asset Resolution (UKAR)’.
UKFI was set up in November 2008 with an overarching objective to manage the Government’s shareholdings in the banks in a way which maximises the realisation of value for the taxpayer as shareholder.
UKFI has announced that Sir David Cooksey is retiring as Chairman. Robin Budenberg will become Chairman in his place and Jim O'Neil (currently responsible for UKFI's investments in Lloyds and RBS) will become Chief Executive.