RBS boss Alison Rose to abandon Edinburgh
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Alison Rose
Royal Bank of Scotland’s new chief executive Alison Rose is to be based solely in London, despite the headquarters of the bank being located in Edinburgh.
Ms Rose’s employment contract lists the bank’s Bishopgate office as her place of work. Her predecessor Ross McEwan had a contract for both London and Edinburgh.
Alison Rose, who is paid £1.1 million per year, is the first woman to run any of the “big four” banks.
The taxpayer owns a 62% stake in the bank as a result of the 2008 rescue, making pay a controversial topic. RBS will pay £305m in bonuses for 2019, the lowest since its bailout, according to Sky News.
Ms Rose is employed by NatWest, a technicality following the post-crisis move to “ringfence” high street banks, The Times reports.
RBS responded to the listing of Ms Rose’s location in London: “Our chief executive is based in London and travels to other locations including Edinburgh.”
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