Osborne says Hester did 'very good rescue job' at RBS
12 June 2013 Last updated at 19:54 BST
The Chancellor has said he is focused on "getting back tax payers' money", following the departure of the Royal Bank of Scotland Chief Executive Stephen Hester.
Mr Hester announced he's stepping down from his role in December after five years at the bank.
He led the large-scale restructuring of RBS following its bail out in 2008 - but will depart ahead of its re-privitisation.
George Osborne said: "Stephen Hester has done a very good rescue job and now we're moving to a new phase....where we focus on getting the British tax payers' money back."