Royal Bank of Scotland hires chief risk officer from HSBC

RBS building

The Royal Bank of Scotland (RBS) has hired its new chief risk officer from rival HSBC.

Bruce Fletcher is joining RBS as its new group chief risk officer, subject to regulatory approval.

He joins from HSBC where he is chief risk officer for its global retail banking and wealth management business.

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Fletcher, 58, will replace David Stephen who is moving to Westpac following a handover of his responsibilities.

Prior to joining HSBC Fletcher spent 17 years at Citigroup where he was managing director and senior credit officer. He began his career at Irving Trust Bank in New York.

RBS chief executive Ross McEwan said that Fletcher “brings significant experience and expertise to the role” and “is an excellent addition to our team” who will “further strengthen our risk function”.

“I would also like to thank David for his substantial contribution to RBS and driving forward the cultural change that has taken place at this bank. He leaves with our best wishes for the future,” McEwan added.

Read more: HSBC appoints RBS exec as finance boss

Fletcher said: “The bank has made good progress and has great potential and I look forward to building on this further in the future.”

HSBC recently hired chief financial officer at RBS Ewen Stevenson as its finance director.

Full story: Royal Bank of Scotland hires chief risk officer from HSBC: City A.M.

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