Stone criticises RBS chief executive after his resignation

A STINGING attack has been made by north MP Jamie Stone on RBS chief executive Ross McEwan, who has resigned after five-and-a-half years in the post.

The bank boss claimed he had "delivered the strategy" he set out when he took over the job in 2013 and had made the business profitable again.

However, Mr Stone, the Liberal Democrats' Scottish affairs spokesman, took issue with the comment.

He said: "The only things Ross McEwan has delivered are countless bank closures and a huge loss of customer confidence. While it may be true that profits have increased, the bank ranked bottom of an official survey of customer satisfaction and branch closures continue to be replaced by erratic mobile services.

"RBS customers deserve better than this and Ross McEwan should be admitting the bank's failures rather than boasting of his own success."

During his time at the bank, Mr McEwan oversaw the closure of hundreds of bank branches throughout the country, including the one in Wick.

But RBS, which is mostly owned by the taxpayer after a bailout by the Government during the global financial crash 10 years ago, last year reported a profit of £1.62 billion. That is more than double the profit of the previous year.

When Mr McEwan became chief executive RBS had businesses in around 30 countries but under his leadership the size of the operation was reduced and in 2018 the bank had operations in just 12 countries.

In a resignation statement Mr McEwan said: "It is never easy to leave somewhere like RBS. However, with much of the restructuring done and the bank on a strong and profitable footing, I have delivered the strategy that I set out in 2013 and now feels like the right time for me to step aside and for a new chief executive to lead the bank."

Mr McEwan will remain in the role until a successor has been appointed.

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