Chancellor George Osborne wanted Royal Bank of Scotland to hurry up and get rid of Citizens, its US bank, and concentrate on being a UK-focused lender. Former chief executive Stephen Hester didn't want to rush the process and thought RBS's capital position would be better served by waiting for Citizens' value to recover.
For many in the City, the international banks HSBC and Standard Chartered will forever be linked.
Stephen Hester is the City's version of William James, the veteran bomb disposal expert played by Jeremy Renner in the film The Hurt Locker.
The new boss of Royal Bank of Scotland has sought to reassure staff about the result of an on-going review into whether to hive off a "bad" bank out of the bailed out lender.
The Treasury pushed Stephen Hester out of his job as chief executive of Royal Bank of Scotland to cut the cost of his pay-off from the state-backed lender, according to a new book.
It took just two hours after his successor Ross McEwan was announced for Stephen Hester to revealed his post-RBS plans.
Royal Bank of Scotland has named the head of its U.K. consumer unit chief executive officer as the government presses the lender to shrink its investment-banking operation.
A little-known New Zealander appears poised to take on one of the highest profile roles in UK banking by becoming chief executive of the bailed-out Royal Bank of Scotland.
Who's the man ?
Speculation was mounting on Friday night that Barclays is considering raising as much as £7bn to bolster its capital position after weeks of discussion with the Bank of England.