Scotland business

RBS group finance director Nathan Bostock to step down

Nathan Bostock
Mr Bostock has informed RBS of his intention to resign

The Royal Bank of Scotland has said its group finance director Nathan Bostock is to step down, less than three months after taking the role.

The bank said Mr Bostock had "informed the board of his intention to resign".

He is expected to become deputy chief executive and chief risk officer at Santander UK.

He will remain in his position to oversee a handover at RBS. Arrangements for his successor will be announced in due course.

In 2011, Mr Bostock had been due to move to the Lloyds group but RBS then said he would remain with them.

An RBS spokeswoman said: "The Royal Bank of Scotland Group can confirm that Nathan Bostock has this evening informed the Board of his intention to resign from his role as Group Finance Director.

"His formal resignation is expected soon, but he will remain in his position to oversee an orderly handover of his responsibilities.

"Details on arrangements for his successor will be announced in due course."

Before joining RBS, he spent eight years with Abbey National in various roles, including chief financial officer.

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