RBS Hester says would have liked to stay for privatization

Reuters

Royal Bank of Scotland Chief Executive Stephen Hester said he would have liked to have stayed at the bank beyond this year to oversee its privatization, but said it made sense to look for a successor before that process.

RBS said on Wednesday Hester will leave later this year.

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"Of course I'd like to have stayed as I feel I've been in the trenches with all of my people helping RBS to recover and privatization would have been a fitting end to those endeavours," Hester said in a video posted by the bank.

"But it has been a very bruising and difficult job so I certainly don't have to be prized away reluctantly."

(Reporting by Steve Slater; Editing by Matt Scuffham)