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Premarket London: RBS Shakes up Management at NatWest Markets

Investing.com

Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchange on Thursday, 19th December. Please refresh for updates.

Royal Bank of Scotland (LON:RBS) replaced the top two managers at its struggling investment bank, NatWest Markets.

CEO Chris Marks and CFO Richard Place will step down from their roles within the bank with immediate effect. The pair will also leave roles as chair and member of the supervisory board respectively.

The move is a response to calls from investors for new CEO Alison Rose to fix the underperforming unit, which lost money in the third quarter and was barely profitable in the six months prior to that.

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Robert Begbie, currently RBS (LON:RBS) Treasurer, has been appointed interim CEO, while Robert Horrocks, RBS Finance Director will be interim CFO.

Housebuilder Crest Nicholson (LON:CRST) said it had appointed Tom Nicholson as its new Chief Operating Officer, effective from 1 Jan. 2020. The new COO joined the group in May 2019 after more than twenty years with competitor Linden Homes, part of the Galliford Try (LON:GFRD) group. It's the latest step in a broader reshuffle at the top of the company, which cut its profit guidance in October after suffering from "volatile" trading conditions. Peter Truscott joined as CEO in September.

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