RBS appoints headhunters to find new chairman

RBS

Royal Bank of Scotland has hired headhunters to take on one of the toughest boardroom searches in Britain - recruiting the next chairman of the taxpayer-backed lender.

Sky News reports that directors of RBS have appointed Egon Zehnder International to assist with identifying a successor to Sir Philip Hampton, who will step down in 2015 after more than six years in the role.

Egon Zehnder was appointed recently and is in the process of approaching potential candidates for the job, according to people close to the situation.

The search is being led by Sir Sandy Crombie, the former Standard Life boss who is RBS's senior independent director, but will also have substantial input from the Treasury and UK Financial Investments (UKFI), which manages the Government's stake in the bank.

The exact timing of Sir Philip's departure will depend on the availability of his successor, although he is likely to remain in place until after next May's general election since the new chairman will want to know the identity of the next Government.

Hit the link below to access the complete Sky News article:

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