RBS has made changes to it’s US team by naming Lawrence K. Fish as Chairman of RBS America, and Ellen Alemany CEO of RBS America
Fish, currently Chairman and CEO of Citizens Financial Group (Citizens), will become the Chairman of RBS America and will continue to serve on the Board of RBS. He will be supported by a management team led by Alemany.
Alemany has joined from Citigroup and will become CEO of RBS America in which capacity she will report to Group Chief Executive, Sir Fred Goodwin and be a member of RBS’s Group Executive Management Committee. Alemany has 30 years experience in global banking and was most recently the CEO of Global Transaction Services and a member of Citigroup’s Operating Committee.
Stephen D. Steinour, who is currently President of Citizens, will become CEO and President of Citizens. Jay Levine will continue in his role as CEO of RBS Global Banking & Markets (GBM) business in the US, which includes RBS Greenwich Capital.
“These management appointments represent a logical and natural step in the development of our activities in the US as our businesses work more closely together,” says Goodwin. “Our American operations have scale, diversity and geographic reach, providing us with significant options for further growth, and these appointments position us well for the next phase of that growth. Larry has been pivotal in building our businesses in the US and will continue to play a central role. Ellen’s credentials and experience make her an ideal candidate for this new role and for the challenges and opportunities that lie ahead as we step into a new phase in the development of our activities in the US.”
“We have achieved extraordinary growth in the US,” adds Fish. “The combination of our locally based management team and the global strength of RBS has taken us from a position of fifth largest bank in Rhode Island in 1988 to one of the top ten commercial banks in the US today. We have a more diverse franchise and a broader range of growth options than ever before. This new structure will enable our customers, shareholders, colleagues and communities to reap even greater benefits from the combined strengths of our businesses in the US.”
“I am excited to be joining this outstanding organisation at such an important stage in its development,” added Alemany. “I am delighted and grateful for the opportunity to work with Sir Fred, Larry and other colleagues at RBS to further integrate and develop what is already one of the top financial institutions in the US.”