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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The Royal Bank of Scotland Group plc    RBS   GB00B7T77214

THE ROYAL BANK OF SCOTLAND GROUP PLC

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Royal Bank of Scotland : NatWest Group appoints David Lindberg as new CEO, Retail Banking

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05/18/2020 | 10:41am EDT

Mr Lindberg will report directly to Chief Executive Officer, Alison Rose, and will be a member of the Executive Committee of NatWest Holdings. Mr Lindberg's start date will be announced in due course.

This appointment also confirms that current CEO, Personal Banking, Les Matheson, will be stepping down. Mr Matheson will be returning to Australia where he has strong family ties. Mr Matheson will remain in his role over the coming months while Mr Lindberg's start date is finalised and in order for a suitable handover to take place.

Chief Executive, Alison Rose, said:

'David's insight and expertise will be invaluable in helping us to bring our new Purpose to life for our retail customers and help them to thrive. With a wealth of experience, he is the perfect person to lead our team through what will be a challenging, but dynamic new chapter in our history and I am delighted to welcome him to the bank.'

'Under Les' leadership we've made great progress in transforming our Personal Banking business around the needs and goals of our customers, including helping customers transition from physical to digital. We now have more than 7 million customers regularly using our mobile app. We've also grown our market share and seen strong improvement on NPS in key strategic areas including mortgages. I'd like to thank Les for his years of contribution to the bank'.

David Lindberg added:

'I am very pleased to be joining an organisation that has a stated goal of becoming purpose-led.'

'I believe that banking, at its best, embraces the role of supporting its customers and communities as its core purpose. This role is particularly important for NatWest at this time, as the UK people and economy deal with COVID-19 and prepare for recovery.'

'I am really looking forward to working with Alison and her team to build upon the bank's strong foundations and to continue to transform the customer experience.'

Disclaimer

The Royal Bank of Scotland Group plc published this content on 18 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2020 14:40:06 UTC

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Financials
Sales 2020 10 962 M 13 833 M 13 833 M
Net income 2020 -495 M -624 M -624 M
Net Debt 2020 - - -
P/E ratio 2020 -27,2x
Yield 2020 3,48%
Capitalization 14 711 M 18 601 M 18 564 M
EV / Sales 2019
Capi. / Sales 2020 1,34x
Nbr of Employees 63 200
Free-Float 38,0%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 156,82 GBX
Last Close Price 121,50 GBX
Spread / Highest target 232%
Spread / Average Target 29,1%
Spread / Lowest Target -31,5%
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Managers
NameTitle
Alison Marie Rose-Slade Chief Executive Officer & Director
Howard John Davies Chairman
Katie Murray Chief Financial Officer & Executive Director
Sheila Valerie Noakes Independent Non-Executive Director
Robert Andrew Joseph Gillespie Independent Non-Executive Director
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