Sandy Crombie joins RBS board

22nd May 2009 07:10

Royal Bank of Scotland has appointed Standard Life chief executive Sir Sandy Crombie as its Senior Independent Director on the board.Sir Sandy, who joins in June, is one of three non-executives RBS agreed to appoint over the next three months as part of its bail-out by the UK government. His role is thought to include overseeing the final details of RBS's participation in the Treasury's asset protection scheme. The appointment has been approved by UKFI, which runs the Treasury's 70% stake in RBS. The job at RBS will be Crombie's first directorship away from Standard Life, where he has worked for 40 years. In March, he announced his intention to stand down as chief executive from the Scottish life group, though no timetable for his departure was set."Sandy Crombie's appointment, which has been made in consultation with our majority shareholder, United Kingdom Financial Investments Limited, is a further major step in the restructuring of our Board as we implement our strategic plan to return to standalone financial strength," RBS chairman Philip Hampton said.