RBS boss to step down

Royal Bank of Scotland, which owns Ulster Bank, is searching for a new chief executive. Ross McEwan has resigned, signalling a fresh start for the bank as it heads for full private ownership, after a state bailout.

New Zealand-born Mr McEwan, who has led RBS since October 2013, has a 12-month notice period and will remain in his position until a successor has been appointed and until an orderly handover has taken place, the bank said on Thursday.