LONDON, Dec 19 (Reuters) - Royal Bank of Scotland has cleared out the top management team at its under-performing investment bank NatWest Markets, in one of the first moves to shake up the state-backed bank’s executive team by new Chief Executive Alison Rose.
NatWest Markets’ CEO Chris Marks and CFO Richard Place have both stepped down, the lender said in a statement on Thursday.
An internal and external search has begun for their replacements, the bank added.
Robert Begbie and Robert Horrocks have been appointed interim CEO and CFO respectively. (Reporting by Iain Withers, editing by Sinead Cruise)