LONDON, June 11 (Reuters) - Royal Bank of Scotland
said on Thursday it has named Robert Begbie as chief executive
of NatWest Markets (NWM), after a successful phase in interim
charge of the embattled investment banking unit.
The bank also said David King, former chief executive of
MUFG Securities in EMEA, had been appointed chief financial
officer of NWM, replacing Robert Horrocks.
King is expected to take up his role during the course of
the summer, RBS said.
Begbie, who has led NatWest Markets since December, faces a
tough task to restore faith in the state-backed lender's
under-pressure investment banking operations where returns and
market share have underwhelmed investors. That has prompted some
to call for a cull of the business.
"When I took over as CEO, re-focusing NatWest Markets was
one of my top priorities, and our work here is well underway to
deliver against the strategy set out in February," RBS CEO
Alison Rose said.
"These appointments will allow us to continue the
transformation and ... establish a business that delivers even
greater benefits for our bank and our customers."
RBS also said that Donal Quaid, interim Group Treasurer
since December, has been appointed Group Treasurer.
(Reporting By Sinead Cruise; editing by Dhara Ranasinghe)