RBS names its first female finance director

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State-backed Royal Monetary establishment of Scotland has named Katie Murray as its chief financial officer, the first female appointment to the place.

The announcement, confirming a alternative first reported by Sky Data, represents a milestone throughout the male-dominated boardrooms of the UK’s largest lenders.

Ms Murray has been throughout the place on an interim basis as a result of the summer season, when Ewen Stevenson left to hitch HSBC.

She is claimed to have impressed colleagues and Metropolis analysts all through her short-term stint throughout the publish, which has coincided with a turbulent interval for shares in RBS and the broader banking sector amid deepening Brexit uncertainty.

Ms Murray will probably be paid a base wage of £750,000 plus a tough and quick share allowance of £750,000 when she takes up the place on a eternal basis on 1 January.

She joined RBS as director of finance in November 2015 and beforehand held roles at Earlier Mutual and KPMG.

RBS Chairman Howard Davies said: “I am glad to welcome Katie to the RBS Board following a worthwhile interval as interim CFO.

“She has already contributed significantly to RBS over the previous three years as a result of the monetary establishment has resolved its remaining major legacy factors, returned to income and restarted paying dividends.”

Ms Murray had been thought-about as a result of the principle internal candidate to change Mr Stevenson nevertheless confronted opponents from exterior contenders along with William Chalmers, a veteran financial institutions banker at Morgan Stanley.

She’s going to probably be part of the workforce overseeing RBS’s implementation of the ring-fencing regime which comes into influence subsequent month, higher than a decade after the monetary establishment was rescued with £45.5bn of taxpayers’ money.

Ms Murray said: “I am delighted to take up this place… as we proceed to assemble a monetary establishment that is simple and guarded for purchasers, produces constructive returns for shareholders and makes a critical contribution to the UK monetary system.”

Ross McEwan, RBS’s chief govt, is anticipated to retire from the place in 2020, with Alison Rose, one different senior govt on the group, the likeliest internal candidate to succeed him.

If Ms Rose had been to land that job, it is perhaps a landmark second in British banking, with ladies holding the very best two govt posts.

RBS’s restoration has been accelerating over the previous 12 months as a result of it has returned to income and restored dividend funds to shareholders a decade after its bailout.

Earlier this yr, the Treasury diminished its shareholding to 62.4% by offloading a 7.7% stake to institutional consumers.

In his funds, Philip Hammond, the chancellor, outlined plans to advertise the remainder of the federal authorities’s stake in the middle of the following 5 years.

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