LONDON--Royal Bank of Scotland Group PLC (RBS.LN) said Tuesday John Maltby will step down as chief executive at Williams & Glyn and be replaced by Jim Brown, chief executive at Ulster Bank.

The 80% Government-owned bank said Mr. Brown's appointment is subject to the regulatory approval process and that he will remain in position to support the board in identifying his successor.

Shares at 1000 GMT down 2 pence, or 0.45%, at 354 pence valuing the company at 40.87 billion pounds ($62.04 billion).

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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