Sir Sandy is stepping down on January 1, having joined RBS in 2009 PARoyal Bank of Scotland is shaking up its board with the retirement of Sir Sandy Crombie and the appointment of Lena Wilson, the former head of Scottish Enterprise. Sir Sandy is stepping down on January 1, having joined in 2009 as RBS was struggling with near nationalisation, heavy losses and unfolding questions about its conduct. The reshuffle of the board comes as the bank, which is still more than 70 per cent owned by the taxpayer, braces itself for a multibillion-pound fine for mis-selling sub-prime mortgage bonds in the run-up to the financial crisis. Agreeing the fine should also make it easier for the government to reduce its holding. Assuming a settlement is reached, the government is expected to rapidly sell a tranche of the…

Source: The Times December 22, 2017 00:04 UTC