Skip to content
Subscriber Only

RBS CEO Seeking to Buy Back Government Shares to Cut U.K. Stake

  • British bank is `on track' to deliver on all of its targets
  • Stock gains as much as 1.9 percent in London trading
The Royal Bank of Scotland Group Plc (RBS) building in London.

The Royal Bank of Scotland Group Plc (RBS) building in London.

Photographer: Matthew Lloyd/Bloomberg

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said he wants the U.K. bank to buy back shares to help reduce the government’s stake.

“I would rather participate as the government is selling down,” McEwan, 58, told investors at a conference in London on Tuesday. “It’s probably the best thing for all investors, where excess capital goes back through buybacks.”