RBS Hires JPMorgan Executive to Replace Morley at Queen's Bank
- Peter Flavel joins from U.S. lender's Asia private bank unit
- Michael Morley will step down as CEO of Coutts & Co. division
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Royal Bank of Scotland Group Plc hired the head of Asia wealth management at JPMorgan Chase & Co. to lead its private-banking businesses, as Michael Morley steps down.
Peter Flavel will join as chief executive officer of private banking, responsible for RBS’s Coutts & Co. and Adam & Co. businesses, the Edinburgh-based bank said in a statement on Thursday. Morley, CEO of Coutts since 2009, will remain at the company until the end of May.