RBS Finance Director Said to Be Poised for Citizens CEO Post

Royal Bank of Scotland Group Plc Finance Director Bruce Van Saun may give up his post to run the lender’s Citizens Financial Group Inc. unit before its initial public offering, a person with knowledge of the matter said.

Van Saun, 55, would replace Ellen Alemany as chief executive officer of the Rhode Island-based consumer lender, said the person, who asked not to be identified because the talks are private. The lender is yet to make a final decision on the move, the person added. Nathan Bostock, RBS’s head of restructuring and risk, may succeed Van Saun as finance director, the Financial Times reported today, without saying where it got the information.

RBS said last month it plans to sell a 25 percent stake in Citizens after coming under pressure from regulators to boost capital. Van Saun, who joined RBS in October 2009, has overseen the shrinking of the Edinburgh-based lender after it received 45.5 billion pounds ($68.8 billion) in the biggest banking bailout in the world in 2008 and 2009.

Bostock, 52, joined RBS in June 2009 from Santander’s Abbey National Plc unit. Bostock was named head of wholesale banking at Lloyds Banking Group Plc in July 2011. Four months later, he decided to remain at RBS.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net

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