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RBS appoints Sherry Liu as chairman and Chief Executive Officer for China

The Royal Bank of Scotland plc ("RBS") today announces a key senior hire as part of its overall investment programme in Asia Pacific. Sherry Liu is joining RBS as Chairman and Chief Executive Officer of RBS in China.

Commenting on the appointment, John McCormick, Asia Pacific Chairman for RBS said: "Sherry brings 15 years of China investment banking experience to her new role with RBS. Sherry's appointment demonstrates our continuing focus on building our corporate and investment banking business both in and outside of China. RBS recognises the importance of success in China as critical to our business performance in Asia Pacific. The addition of Sherry Liu to what is already a very experienced team is part of our continuing investment to ensure that we can best serve the needs of our clients".

Ms. Liu will be responsible for overseeing and driving the Bank's overall business strategy in China, across banking, markets, wealth and various joint venture investee companies in the country.

Ms Liu will report jointly into John McCormick and Matthew Kirkby, Regional Head of Global Banking. She will also join the Global Banking Asia Pacific Management Team.

Ms Liu joins RBS from JP Morgan Chase, where she was Chairman for China Financial Institutions and Vice Chairman for China.

"I'm excited to be joining RBS in building its franchise in China. RBS has built a fantastic collection of banking businesses and investments in China that very few foreign banks in China can match. I believe RBS has a very compelling growth story in China and I'm excited to be part of growing these activities to the next level," said Ms Liu.

Press Enquiries

Yuk Min Hui +852 3961 3354 / yuk.min.hui@rbs.com
Angela Wang +86 21 2893 9520 / angela.wang@rbs.com

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