TSB Bank has hired David Fenton from rival Royal Bank of Scotland to be its new chief economist.

Mr Fenton, who has spent 15 years in financial services, will be based in Edinburgh and report in to Candy Gil, TSB's director for planning, reporting and analysis. At RBS Mr Fenton was latterly a senior economist having formerly been head of macroeconomics. Ms Gil said: "The chief economist position is a new role at TSB and David has the ideal skill-set and experience to fit the bill. He has proven industry knowledge to advise TSB senior management on economic issues and help inform decision-making to benefit the customers we serve." Prior to joining RBS Mr Fenton worked as a finance executive at accountancy firm Ernst & Young looking after a number of private and public sector clients.

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