RBS appoints former FSA regulator as head of conduct and regulatory affairs
The Royal Bank of Scotland Group has appointed Jon Pain as Group Head of Conduct and Regulatory Affairs.
30 May 2013
Jon will be a member of the Group Executive Committee with responsibility for oversight of conduct and compliance globally across all RBS divisions as well as strategic leadership of the Group’s relationships with regulators. This is a newly created role which reports directly to Group Chief Executive Stephen Hester.
Jon has over 30 years experience working across the banking industry, most recently as Partner for Financial Services with KPMG. Prior to this, he was Managing Director, Supervision for the Financial Services Authority leading the regulator’s supervisory actions to restructure, recapitalise and strengthen the banking sector.
From 1973-2007 he held a number of senior positions across Lloyds, including MD for Cheltenham & Gloucester, MD for General Insurance and MD for Private Banking.
Stephen Hester, RBS Chief Executive, said: “I am delighted that we have recruited someone of Jon’s experience to this new and important role. The creation of this position sends a clear message about how we want to do business - serving customers well, completing our return to a safe and conservative risk profile, and generating sustainable returns for shareholders.
“If we achieve these objectives, and do so in the right way, RBS will become a really good bank. Jon will be an excellent addition to the management team and I look forward to working with him when he takes up the position.”