RBS lines up CFO van Saun to lead U.S. spin-off: source

Reuters

Royal Bank of Scotland is preparing to appoint Finance Director Bruce van Saun as the head of its U.S. arm Citizens ahead of the flotation of the unit, a person familiar with the matter said on Tuesday.

The state-backed UK bank could appoint Nathan Bostock, its head of restructuring and a former finance director of Abbey National, as van Saun's replacement. Bostock is highly regarded and is likely to be the front-runner if van Saun goes, although no decisions have been finalized, the source said.

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The Financial Times, which first reported the possible moves, said the changes could be announced within a matter of weeks.

RBS declined to comment.

(Reporting by Steve Slater. Editing by Carmel Crimmins)