RBS-chief financial officer, is leaving the bank

RBS

The chief financial officer of Royal Bank of Scotland (RBS) has resigned after four years in the job.

The bank, which said 72% – owned by the British taxpayer, Ewen Stevenson would take a Chance elsewhere”.

Mr Stevenson had previously been tipped as a potential successor of Ross McKewan as RBS chief executive.

The announcement comes amid reports that the government was able to announce the sale of part of its stake in the bank as soon as this week.

RBS has not said when Mr Stevenson would go, only that he “would remain in his position to oversee an orderly handover of his responsibilities”.

He said the search for a successor will begin immediately.

Chief executive Ross McEwan said: “the past four years, Ewen has worked tirelessly with me and my executive team RBS a much simpler, safer and more customer-focused organization and to address a number of important legacy challenges. “Cleaner bank’

Earlier this month RBS, 70% of the shares agreed to sell a $4.9 bn (£3.6 bn) penalty with the US authorities, paving the way for the government.

The long-running probe focuses on the sale of financial products, including toxic mortgage bonds in 2005-7, before the financial crisis.

It was the last of the “legacy problems” put an obstacle in the way of the reprivatisation of the bank.

In the time Mr McKewan said, the settlement would be a “clean shore”, which is easier to sell to.

Chancellor Philip Hammond said the agreement “marks a further significant milestone in the RBS work to resolve its problems with contaminated sites, and will help pave the way to a sale of the taxpayer in the ownership of shares”.

The bank is due to hold its annual General meeting on Wednesday.