Rory Cullinan to leave Royal Bank of Scotland

Cullinan was the only member of the Edinburgh-based bank’s management committee to get a bonus this year

Royal Bank of Scotland Group said Rory Cullinan, the former bad bank chief appointed to lead its securities unit last month, will leave the lender on April 30th.

Mon Mar 30 2015 - 14:00

Royal Bank of Scotland Group Plc said Rory Cullinan, the former bad bank chief appointed to lead its securities unit last month, will leave the lender on April 30th.

Chris Marks and Mark Bailie will become co-chief executive officers of the corporate and institutional bank, RBS said in a statement Monday.

“We would like to express our thanks to Rory for his very significant contribution to the rebuild of RBS over the last six years,” RBS CEO Ross McEwan said in the statement.

Cullinan was the only member of the Edinburgh-based bank’s management committee to get a bonus this year after the bad bank sold off more assets than expected.

Bloomberg