New RBS finance director quits

The newly appointed group finance director of the Royal Bank of Scotland (RBS) has resigned after just ten weeks in the job and is to join Spanish-owned bank Santander according to Harris & Co accountants Northampton.

Nathan Bostock, who started the top finance job at RBS on 1 October, is set to become deputy chief executive of Santander UK.

RBS confirmed Bostock had informed the group board of ‘his intention to resign’ from the role.

The statement said: ‘His formal resignation is expected soon, but he will remain in his position to oversee an orderly handover of his responsibilities.’ Bostock is believed to have a 12 month contract with the troubled bank, which also lost chief executive Stephen Hester in the summer.

State-backed RBS is currently creating an internal ‘bad bank’ to house £38bn of its riskiest assets. As the bank’s former head of restructuring and risk, Bostock was expected to be an integral part of that process.