Royal Bank of Scotland (RBS) is launching a merchant acquiring service, NatWest Tyl, for small to medium-sized businesses (SMBs), heading back into the payments business, putting it in direct competition with its former subsidiary Worldpay. RBS launches merchant acquiring business NatWest TylEU regulators forced RBS to sell its payments business, which was renamed Worldpay, as a condition of its taxpayer bailout of almost £50 billion during the financial crisis.
'Right time to go'
Departing: Ross McEwan will leave within 12 months (pic: Terry Murden)Ross McEwan has resigned from his role as Chief Executive of Royal Bank of Scotland, saying it is the “right time” to step aside. Mr McEwan, whose remuneration is expected to be raised at today’s AGM in Edinburgh, will remain in his position until a successor has been appointed. The effective date of his departure will be confirmed in due course.
Alison Rose: blooming at RBS RBS has edged closer to appointing its first female chief executive after Alison Rose was installed as Ross McEwan’s deputy. Ms Rose will add her new role to her existing job as CEO of commercial and private banking and also becomes a director of NatWest Holdings, the bank’s ring fenced holding company. She has been with RBS for 20 years and joined the board of RBS private bank Coutts in October 2015. She was tipped as a potential group CEO last year.