Ian McConnell

ROYAL Bank of Scotland has appointed Bruce Fletcher, from HSBC, as its group chief risk officer.

He will replace David Stephen, who is moving to Australian bank Westpac following what Royal described as “an orderly handover of responsibilities”. Mr Fletcher is currently chief risk officer for HSBC’s global retail banking and wealth management business.

Royal chief executive Ross McEwan said Mr Fletcher was an “excellent addition” to the team.