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.

Royal Bank of Scotland, which is the parent company of Ulster Bank, is to separate its retail operations from its higher-risk businesses in a major overhaul to meet new ring-fencing rules in the UK, which also means the RBS brand will only be used in Scotland.