RBS finance director quits after 10 weeks in the job

The Royal Bank of Scotland’s group finance director is to resign after only 10 weeks in the job.

Nathan Bostock took up the post on 1 October, is leaving RBS to become deputy chief executive at Santander.

However, Bostock will not actually leave his post until this time next year, unless a replacement is found sooner, as he is committed to a 12 month notice period.

This follows another senior departure at RBS this year as chief executive Stephen Hester was forced to resign in the summer. He was replaced by Ross McEwan, who took up the post on the same day as Bostock.

This is the second time Bostock has tried to leave the bank. In 2011, he secured a role as head of Lloyds Banking Group’s wholesale arm, but was enticed back to RBS by the promise of a future promotion.

Chairman Sir Philip Hampton said in a statement: “Nathan did a remarkable job as chief risk officer and was integral to the plan which restored safety and soundness to the bank following the 2008 banking crisis.”

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