CORRECTED-UPDATE 1- BlackRock says executive rejected RBS approach

(Corrects lede to clarify McCombe was not offered RBS CEO job)

July 24 (Reuters) - BlackRock Inc said its head ofAsia Pacific operations, Mark McCombe, spurned an approachregarding the role of chief executive at Royal Bank of Scotland and will remain with the world's largest fund manager.

The Financial Times cited sources on Tuesday saying thatMcCombe, a former head of HSBC Holdings Plc's Hong Kongoperations, had emerged as the external frontrunner for theposition of RBS chief executive.

BlackRock spokesman Brian Beades told Reuters that McCombesent a note to his senior staff informing them that he had beencontacted by RBS but had elected to remain with the firm.

RBS is looking for a replacement for ousted Chief ExecutiveStephen Hester, whose departure last month was engineered byChairman Philip Hampton with the backing of Britain's financeministry.

Hampton and Anna Mann's MWM headhunting firm areinterviewing candidates and could name a new chief executive byAug. 2, along with the bank's second-quarter results, the FTsaid. (http://link.reuters.com/nyc89t)

David Roberts, the deputy chairman of Lloyds and a formerbanker at Barclays Plc, is seen as a second credibleexternal candidate for the post, the newspaper added.

External candidates touted by industry sources and analystsalso include Richard Meddings, finance director at StandardChartered Plc.

Internal options would include Finance Director Bruce VanSaun, and Nathan Bostock, currently head of restructuring andrisk and a former Abbey National finance chief.

RBS declined to comment on the matter. (Reporting by Abhirup Roy in Bangalore and Ashley Lau in NewYork; Editing by Stephen Coates and Louise Heavens)