A senior Credit Suisse executive who was drafted in to advise on the recapitalisation of RBS is to join the the taxpayer owned bank as its new chief finance officer.
Ewen Stevenson (47) – who was born in the UK but raised and educated in New Zealand – will take up his new post on May 19.
He is currently co-head of EMEA Investment Banking and the investment banking division of its Global Financial Institutions Group, having risen through the ranks in a 25-year career.
In 2008 and 2009, he was a senior member of the Credit Suisse team called in to advise the UK Treasury on how it should proceed with the recapitalisation of RBS and Lloyds Banking Group following the financial crisis which engulfed the UK banking sector.
Mr Stevenson was also involved in an advisory capacity over the restructuring of Northern Rock after it failed and caused the first run on a UK bank in generations.
RBS chief executive Ross McEwan said he was delighted to have Mr Stevenson on board and said his appointment was another step along the road to restoring public trust.
“Ewen has spent many years working with the world’s leading banks,” Mr McEwan said.
“In recent years he has been a trusted adviser to both governments and company boards on the steps needed to restore confidence in financial institutions following the crisis.
“At RBS we are determined to re-earn the trust of our customers and our continued financial health is central to that task.
“Ewen shares our vision for building a great customer bank and I look forward to working with him.”