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RBS says Ulster Bank CEO Brown to become boss of Williams & Glyn

Reuters - UK Focus

LONDON, April 28 (Reuters) - Royal Bank of Scotland (LSE: RBS.L - news) said it had appointed Jim Brown, currently boss of its Irish business, to replace John Maltby as chief executive of its Williams & Glyn business, which is due to become a new UK "challenger" bank.

RBS was ordered to sell Williams & Glyn, which comprises 314 branches and is focused on lending to small businesses, by European regulators as a condition of its 46 billion pound ($70 billion) government bailout during the 2007-09 financial crisis.

It plans to list the business on the London Stock Exchange (Other OTC: LDNXF - news) in the second half of 2016.

RBS said on Tuesday Maltby would resume his previous role as advisor to a consortium of investors in Williams & Glyn. ($1 = 0.6547 pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)