The Royal Bank Of Scotland has unveiled Steve Maddock as its first managing director of claims. He will take up the new role in February 2010.
Mr. Maddock has been director of strategic and technical claims at RSA since 2004. Previously he was director of claims and customer service at Capita and director of operations at AMP Pearl. -Post Magazine
The Royal Bank Of Scotland announced that it has hired senior sales people for the foreign exchange sales team within its global banking and markets (GBM) Americas division in order to further strengthen the firm’s regional foreign exchange coverage. Dennis Holman will join as a managing director in foreign exchange (FX) sales, reporting to Craig Donaldson, head of financial institutions foreign exchange and prime brokerage sales for North America. Chad Smith will join the company as a managing director, also in foreign exchange sales, reporting jointly to Stefano Lupi, global head of FX bank sales and Mr. Donaldson. Mr. Holman will be responsible for expanding the firm’s FX sales platform to existing and prospective institutional clients. Mr. Smith will join the firm from UBS Investment Bank where he was a director in foreign exchange sales, responsible for managing foreign exchange relationships with a large number of the firm’s key clients. At RBS he will add to the firm’s foreign exchange coverage of bank clients in the Americas. Previously, Mr. Smith was at Lehman Brothers in FX sales from 2002 to 2006. -Business Wire
Chris Sullivan, chief executive of Royal Bank of Scotland Insurance, is to step aside at the end of July and take on a new role within the bank. He will be succeeded by Paul Geddes, currently CEO of Royal Bank of Scotland Group, UK retail, who will join the executive committee. Mr. Sullivan, who has managed the business since November 2006, will become CEO of UK corporate banking division. -Post Magazine
The Royal Bank of Scotland has appointed Peter Najarian as the new global head of local markets sales within its global banking and markets division. Mr Najarian will be based in Stamford, Connecticut, and will report to Brian Reid, global head of institutional coverage, research and strategy, and to Gary Cottle, global head of corporate risk solutions for the global banking and markets (GBM) division. Locally, Mr Najarian will report to Mike Lyublinsky, co-head of GBM Americas. Mr Najarian will be responsible for leading the business’s local markets corporate and institutional sales teams as well as implementing a global sales strategy across the business and sectors. -Data Newswire
Nathan Bostock is to head the new Royal Bank of Scotland group non core division. His title is head of restructuring and risk and he will report directly to Stephen Hester, CEO. He will be responsible for the risk & legal functions within RBS. It is noted that much of the non core assets will be the same as the assets registered under the government asset protection scheme. It is a return to RBS for Nathan who is a former director of group risk, up until 2001. He is currently CFO at Abbey National and Alliance & Leicester.
Royal Bank of Scotland Group announced that Gordon Pell currently head of regional markets has assumed the title of deputy chief executive, reflecting his broader input to the group’s business. In addition to his group role, Gordon will retain particular responsibility for the UK retail, wealth and ulster bank businesses.
Royal Bank of Scotland Group appointed Sir Philip Hampton as deputy chairman with a view to taking over from chairman Sir Tom McKillop in April.-Daily Post (Liverpool)
Patrick Snowball, the former executive chairman of Norwich Union, will be appointed as the chairman of Royal Bank of Scotland Group insurance arm if he succeeds in taking over the division.-The Daily Telegraph (LONDON)
Royal Bank of Scotland Group announced that Mark Fisher, an executive director who is currently seconded to ABN AMRO will be leaving the Group during 2009. The timing of his departure will be aligned with the progress of the integration of ABN AMRO into RBS, which remains on track for its scheduled completion in 2009. In addition, as part of the current restructuring of the board, Mr. Fisher will step down as a director on November 21, 2008.-London Stock Exchange
Royal Bank of Scotland Group announced that Stephen Hester will become group chief executive and an executive director of RBS on Nov 21 at which point Sir Fred Goodwin will stand down as group chief executive and as an executive director. Sir Fred Goodwin will remain with the group until Jan. 31, 2009 to ensure a smooth handover of responsibilities. RBS has received notification from Stephen Hester that he will resign as a director of The British Land Company, with effect from Nov. 15, 2008.-Borsa Italiana spa
Sir Fred Goodwin, the chief executive of the Royal Bank of Scotland Group, is expected to step down as the Government’s multi-billion pound bail-out of British banks clears the way for boardroom changes. He will be replaced by Stephen Hester, formerly the head of Abbey.-The Daily Telegraph (LONDON)
The Royal Bank of Scotland Group announced two appointments at senior positions to boost its global banking and markets business in India. Prakash Shah has been appointed as vice-president (commodities), while Anand Beria has joined the bank’s financial institution sales team.
Shah, prior to joining RBS, spent five years trading commodities in India and the Asia Pacific region for Merrill Lynch in Singapore. In his new role, he would be based in Mumbai and report to Arun Khurana, head of markets, India. While Beria, previously with Rabobank in India would be a part of the FI sales team, reporting to Jayen N Shah, head of FI sales team in India.-The Press Trust of India
Royal Bank of Scotland Group announced the appointment of Daniel Cotti, as head, global trade finance, within Global Transaction Services (GTS) at RBS. In addition, the UK bank has made announcement of all the regional heads of the GTS team. Cotti was previously head of global products for ABN Amro transaction banking, managing the bank’s worldwide trade and supply chain business, as well as the global treasury and investment management business that manages liquidity for clients. In addition to Cotti as head of global trade finance within GTS at RBS, the following have been appointed in the new global trade finance business within GTS and report to Cotti.
Andrew Betts, has been appointed as global head trade finance and supply chain, GTS at RBS. He is responsible for the bank’s global product offering in international trade financing and supply chain financing, executing a proactive global trade advisory approach to structuring transactions for clients across a network of more than 50 countries. Before this new role, Betts was the global head of supply chain finance at ABN Amro.
Adnan Ghani, has been made head of trade asset management, GTS within RBS. Ghani was previously global head of trade, transaction banking, ABN Amro. In this new role, Ghani is responsible for the proactive management of the global trade finance book.
Madhav Goparaju, has been appointed as head of trade channels management, GTS. In his new role Goparaju is responsible for overseeing trade channels for the trade finance and supply chain business within GTS. Goparaju joined ABN Amro in 1999 and held positions in developing industry-leading global channels for the trade and supply chain business, including senior management positions in global product development and client implementation and support.
Cort Jacobsen, becomes head of trade services and financial institutions solutions, GTS. Jacobsen’s previous role was as global head of infrastructure and custom engineering in transaction banking delivery management at ABN Amro. As global head of trade services and FI solutions, Cort is responsible for the bank’s global trade services and FI trade flow business externally, taking a proactive approach to structuring trade services and FI partnership solutions.
Pravin Advani, regional trade head, Asia, GTS. Advani was also previously with ABN Amro.
John Bugeja, regional trade head, UK/Ireland, GTS. Bugeja’s previous role was as director, international service network and product, within international banking services at RBS. He joined RBS from NatWest, where he was head of corporate business development.
George Melendez, has been appointed as regional trade head, Americas, GTS. He was formerly director and head of sales in North America for ABN Amro’s treasury solutions for large and mid-market companies. Melendez joined ABN Amro in 2003.
Finally, Reinout van Riel, has been appointed as regional trade head, EMEA, GTS at RBS. Van Riel joined ABN Amro in 1995.
Royal Bank of Scotland Group has appointed a head for Japanese credit trading. The company has announced that it has appointed Theodore Lo as head of credit trading in Japan. Lo would be responsible for developing the bank’s credit trading capabilities in the country, and is to report to Lee Knight, chief executive of RBS Securities Japan. Lo was previously with Morgan Stanley for about 12 years. Most recently, he was head of the Japan/Asia debt syndicate team.
Royal Bank of Scotland Group announced that two senior hires to boost its financial institutions Team in India. Atal Agarwal has been appointed as executive director and head of financial institutions for India, while Amit Dharod joins the sales team. In his new role, he will be based in Mumbai and report regionally into James Pearson, head of financial institutions Asia Pacific and locally to Brijesh Mehra, head of corporate and local client coverage for India.
Dharod is a chartered accountant and brings with him 10 years of work experience across various aspects of debt bond placements, credit structuring, loan syndication of financing mandates. Amit has earlier worked with GE Capital Services – India & ICICI Bank, where he managed a similar portfolio. In his new role, he will be a part of the markets team, led by Arun Khurana, head of markets for India. The team named above represents appointments to future global banking and markets positions which will be created when necessary regulatory approvals have been obtained and all appropriate consultations have been completed.-India Infoline Ltd.
Royal Bank of Scotland Group appointed Christiane Mandell as head of FX and local markets trading for the Americas, based in Greenwich, Connecticut. The hire completes the senior management team for the sales and trading business in the US.
Mandell joins RBS having most recently been at Bank of America where she was head of the global foreign exchange group with responsibility for both sales and trading. In her 18 year career at Bank of America, Mandell held a number of senior roles including head of investor client management for debt and equity, head of institutional sales for fixed income and global head of FX sales and research.
In this newly created role at RBS, Mandell reports locally to Symon Drake- Brockman, head of markets, Americas. She also has global reporting lines into Roger Hawes, London-based global head of spot FX trading and Patrick Olsson, London-based global head of local markets.-PR Newswire
Royal Bank of Scotland Group has announced further senior appointments in its cross border structured finance (CBSF) business as part of the continuing integration of ABN Amro.
Simon Jones has been appointed as future CBSF head for Europe, Middle East and Africa (EMEA). He will be based in London. Jones was previously executive director within CBSF at ABN.
In Hong Kong, Paul Gardner has been appointed future CBSF head for Asia a RBS. In addition, Gardner will also head the commodity finance business in Asia. Under his old ABN hat, he was also head of CBSF Asia.
In addition to these appointments, Bart Timmermans has been appointed as head of commodity finance EMEA at RBS. He will be based in London. Within the old ABN set-up, he was global head of commodity finance – a position he rose to in May 2007 when he took over from Anushavan Simonyan.
Jones and Timmermans will report directly to Gareth Thomas, head of corporate debt capital markets (DCM) and loans CEEMEA (Central and Eastern Europe, Middle East and Africa). Gardner will report to Richard Dawson, head of corporate DCM and loans Asia, based in Hong Kong.
Royal Bank of Scotland Group announced that Tom Hardy, global head of project finance, has taken early retirement after completing the integration of ABN project finance into RBS. Hardy started the RBS project finance group 14 years ago. The heads of the various RBS project finance subgroups – Mark Parry, Andy Jameson, Michael Crosland and Wayne Burdett – will now report directly to Mike Nawas.
RBS Power Project Finance Senior Director Siobhan Smyth has also left to join the new renewables team at HSBC. And Philip Roberts, senior director of power project finance at Royal Back of Scotland in London, has been promoted to head of power for Europe, Middle East and Africa. Roberts replaces Alan White, who left the bank on June 17.
New joint global heads of corporate and structured syndicate at Royal Bank of Scotland – Mark Dodd and Rebecca Manuel – have selected Simon Orchard as head of project finance/asset-backed syndicate, Hasan Mustafa as head of emerging markets syndicate and Gayle Moore as head of MTNs. Other members of the syndicate team include Philippe Bradshaw and Stuart Montgomerie. They will work on the corporate and structured bond syndicate, while Catherine Campbell and Jonathon Pughe will work on the corporate and structured loan syndicate.
David Noden, Roberto Castiglione and Hina Haque will also work on the project finance/asset backed syndicate. Michael Emergy and Usman Javed will work on the emerging markets loan syndicate, while Nicky Darrant and Alan Roch will work on the emerging markets bond syndicate.
Hayley Basterfield will work with Gayle Moore on MTNs while Louise Benisti, Pavinder Bhinder and Rakhee Morjaria have been appointed corporate and structured syndicate generalists. Sarah Porter and Nicola Burrows will provide team support.-Project Finance
Royal Bank of Scotland Group has hired Ted Lo, a long time debt market executive at Morgan Stanley as its new head of credit trading in Japan. Lo will join RBS in Tokyo in early September. He spent 12 years at Morgan Stanley, most recently as head of Asian debt syndicate in Tokyo. In his new role at Royal Bank of Scotland, Lo will report to Lee Knight, head of global markets for Japan.
Royal Bank of Scotland (RBI) appointed Paul Davies as head of ABN Amro’s private clients business in India. Davies would oversee the growth strategy and integration programme of ABN Amro’s private banking business in the country. Davies would lead a team of 60 professionals located in five branches in India, the release added.-The Press Trust of India
Royal Bank of Scotland Group has appointed Greg Norman as assistant director in its corporate and structured finance team in Reading. Greg, who was previously as relationship director in RBS’s Solent corporate team, had also worked in the large corporate division in the bank’s Gatwick office.-Other
RBS Citizens announced that Ellen Alemany, CEO of RBS Americas, will assume an additional role of CEO of RBS Citizens, after having served as CEO for RBS Americas. RBS Americas appointed Alemany CEO in March 2007. She has a 31-year career in banking and finance, spanning companies from Chase Manhattan Bank to Citigroup, where Alemany served in a variety of senior roles, including CEO of Citi capital, CEO of commercial business group and corporate bank head in North America and Europe. Most recently, she served as CEO for global transaction services, the fastest-growing of Citi’s 12 publicly reported business lines.-PR Newswire
Royal Bank of Scotland Group has appointed Masafumi Yamamoto as the new head of FX strategy for its Tokyo branch. Mr. Yamamoto will assume overall responsibility for the publication of FX research and strategy reports that forecast directional fluctuations of the Japanese yen against major and selected emerging market currencies. He will work closely with RBS global research teams to deliver market intelligence and trading ideas based on market flows, socio-economic, and political factors. -Datamonitor
Royal Bank of Scotland announced that Stuart Heslop is to move from the bank’s commercial banking department to become managing director of the corporate and institutional banking team, which is to be boosted from 12 to 15 staff.
Two new senior relationship director positions have also been created in the corporate and institutional banking team, to be filled by Mark Ringland, who will cover financial institutions, and Donald Wilson, who is charged with overseeing corporate business.
The team, based at the bank’s St Andrew Square office in Edinburgh, is part of the UK corporate banking division, led by Ken Barclay. Like Heslop, Wilson is to move from the bank’s commercial banking division while Ringland has been promoted from within corporate and institutional banking division. -The Scotsman
Royal Bank of Scotland Group has appointed Sioned Edwards as director of commercial banking covering North Wales. She has more than 24 years’ experience in banking and has been a part of the RBS commercial banking team for over 12 years. She works out of the bank’s offices in Caernarfon and Wrexham but will be relocating to new offices in Colwyn Bay in 2008. -Daily Post (Liverpool)
RBS Lynk announced the appointments of Greg Leos and Theo Rokos as senior vice presidents of sales for, respectively, the Eastern and Western United States regions. Both will report directly to Kurt Metzler, executive vice president and general manager of RBS Lynk’s small business unit. Leos previously was with Moneris Solutions where as senior vice president he was responsible for national sales and relationship management. Rokos joined RBS Lynk from Wolters Kluwer, an international publisher, where he ran the western region sales operations.
RBS Lynk announced the appointment of Nicholas J. Sommerio as chief financial officer. He brings over 20 years of finance and accounting experience in the electronic payments industry, most recently with Global Payments. Sommerio held leadership positions with Global Payments, including vice president, corporate development and strategy, and vice president, financial planning and analysis. -PR Newswire
