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Royal Bank of Scotland

Volume 564: debated on Thursday 13 June 2013

The Royal Bank of Scotland (RBS) yesterday announced that Stephen Hester will be stepping down as chief executive officer (CEO) later this year.

When Stephen Hester took on the job at RBS in 2008 it was on the edge of collapse. RBS today is safer, stronger and better able to support its customers. I commend Stephen Hester for everything he has done to make this turnaround possible.

Having brought RBS back from the brink, now is the time to move on from the rescue phase to focus on RBS being a UK bank that provides greater support to the British economy, helping businesses and job creation here, and which can return to the private sector in a way that ensures value for the taxpayer.