UK banking ban for former RBS boss

The former boss of Royal Bank of Scotland’s investment banking business has been banned from ever holding a senior role in the City again, it was announced today.

The Financial Services Authority (FSA) said Johnny Cameron had agreed to the decision following an investigation into systems and controls in the global markets division at RBS, launched in the wake of the bank’s near collapse and subsequent taxpayer bail-out.

Mr Cameron will not face a fine as a result of his settlement, but will never be able to hold another top job in the City or full-time role in the UK financial services industry.