FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or
15d-16 of
the Securities Exchange Act
of 1934
For 11 June 2020
Commission File Number: 001-10306
The Royal Bank of Scotland Group plc
RBS, Gogarburn, PO Box 1000
Edinburgh EH12 1HQ
________________________________________________
(Address of principal executive
offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F __X__ Form 40-F
_____
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes _____ No __X__
If “Yes” is marked, indicate below the
file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____
This report on Form 6-K, except for any information contained
on any websites linked in this report, shall be deemed incorporated by reference into the company's Registration Statement on Form
F-3 (File No. 333-222022) and to be a part thereof from the date which it was filed, to the extent not superseded by documents
or reports subsequently filed or furnished.
The Royal Bank of Scotland Group plc
RBS and NatWest Markets announce appointments
11 June 2020
The Royal Bank of Scotland Group plc (RBS)
and its subsidiaries, Natwest Markets Plc (NWM) and Natwest Markets N.V. (NWM N.V.), today announce appointments to the NWM Executive
Management team and Board. Robert Begbie, Interim NWM Chief Executive Officer since 19 December 2019, has been appointed NWM Chief
Executive Officer, and David King, former CEO of MUFG Securities EMEA plc, has been appointed NWM Chief Financial Officer, replacing
the Interim NWM Chief Financial Officer Robert Horrocks.
RBS also announces that Donal Quaid, interim
Group Treasurer since December 2019, has been appointed Group Treasurer.
Robert Begbie will continue to serve as
a member of the NWM Board and as Chair of the NWM N.V. Supervisory Board. David King will join the NWM Board as an Executive Director.
It is anticipated that David King will take
up his role during the course of summer 2020.
Alison Rose, Chief Executive of RBS, commented:
“We’re very pleased to make
these appointments. When I took over as CEO, re-focusing NatWest Markets was one of my top priorities, and our work here is well
underway to deliver against the strategy set out in February. These appointments will allow us to continue the transformation and
refocusing process across NatWest Markets that we announced in February and establish a business that delivers even greater benefits
for our bank and our customers.
“We would like to congratulate
Robert Begbie on his appointment and thank Robert Horrocks for his dedication and commitment as interim CFO, during which NatWest
Markets produced strong revenue delivery in Q1 2020. We would also like to welcome David King, who adds extensive experience and
expertise from his time at MUFG and elsewhere.
“NatWest Markets plays a crucial
role within the Group, allowing us to provide our customers with the products and services they need to succeed.”
Robert Begbie, CEO of NatWest Markets
Plc, said:
“I am delighted to have the opportunity
to lead NatWest Markets.
“NatWest Markets has an important
role within the Group, connecting our customers with international wholesale and capital markets, and partnering to provide the
risk management and financing solutions that help them realise their potential and thrive.
“We have made considerable progress
in refocussing the business following the strategic announcement in February and we will continue to build upon this during the
medium term.”
For further information, please contact:
Investor Relations
Alexander Holcroft
Head of Investor Relations
+44 (0) 207 672 1758
Amanda Hausler
Head of NatWest Markets Investor Relations
+44 (0) 207 085 6448
RBS Media Relations
+44 (0) 131 523 4205
Forward-looking statements
This document contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform Act of 1995, such as statements that include, without limitation,
the words ‘expect’, ‘estimate’, ‘project’, ‘anticipate’, ‘commit’,
‘believe’, ‘should’, ‘intend’, ‘plan’, ‘could’, ‘probability’,
‘risk’, ‘Value-at-Risk (VaR)’, ‘target’, ‘goal’, ‘objective’, ‘may’,
‘endeavour’, ‘outlook’, ‘optimistic’, ‘prospects’ and similar expressions or variations
on these expressions. These statements concern or may affect future matters, such as RBS, NWM or NWM N.V.'s future economic results,
business plans and strategies. In particular, this document may include forward-looking statements relating to RBS, NWM or NWM
N.V. in respect of, but not limited to: regulatory capital position and related requirements, financial position, profitability
and financial performance (including financial, capital and operational targets), access to adequate sources of liquidity and funding,
increasing competition from new incumbents and disruptive technologies, exposure to third party risks, ongoing compliance with
the UK ring-fencing regime and ensuring operational continuity in resolution, impairment losses and credit exposures under certain
specified scenarios, substantial regulation and oversight, ongoing legal, regulatory and governmental actions and investigations,
the transition of LIBOR and IBOR rates to alternative risk free rates and exposure to economic and political risks (including with
respect to terms surrounding Brexit and climate change), operational risk, conduct risk, cyber and IT risk, key person risk and
credit rating risk. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results
and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking
statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, the
final number of PPI claims and their amounts, legislative, political, fiscal and regulatory developments, accounting standards,
competitive conditions, technological developments, interest and exchange rate fluctuations, general economic conditions and the
uncertainty surrounding the Covid-19 pandemic and its impact on RBS, NWM or NWM N.V.. These and other factors, risks and uncertainties
that may impact any forward-looking statement or RBS, NWM or NWM N.V.'s actual results are discussed in RBS, NWM and NWM N.V.’s
respective 2019 Annual Report and Accounts (ARA) and their respective Q1 2020 IMSs, as well as RBS materials filed with, or furnished
to, the US Securities and Exchange Commission, including, but not limited to, RBS's most recent Annual Report on Form 20-F and
Reports on Form 6-K. The forward-looking statements contained in this document speak only as of the date of this document and RBS,
NWM and NWM N.V. do not assume or undertake any obligation or responsibility to update any of the forward-looking statements contained
in this document, whether as a result of new information, future events or otherwise, except to the extent legally required.
Signatures
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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THE ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
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Date:
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11 June 2020
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By:
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/s/ Gary Moore
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Name:
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Gary Moore
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Title:
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Assistant Secretary
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