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BL: RBS Wealth Chief Executive Officer Baines Resigns (Update1)

February 05, 2010, 10:29 AM
By Richard Tomlinson and Jon Menon

Feb. 5 (Bloomberg) -- John Baines, chief executive officer of Royal Bank of Scotland Group Plc’s wealth management unit, has resigned, according to a company spokesman.

In August, Hanspeter Brunner, the head of Coutts’s Asia private banking division, left for BSI Bank, along with about 70 Singapore-based Coutts employees. RBS CEO Stephen Hester in December said the bank was walking a “tightrope” when seeking to recruit and retain top bankers while under government ownership.

Baines declined to comment when contacted on his mobile telephone.




--Editors: Francis Harris, Ben Vickers



To contact the reporters on this story: Richard Tomlinson in London at [phone] or [e-mail] Jon Menon in London at [phone] or [e-mail]



To contact the editor responsible for this story: Willy Morris at [phone] or [e-mail]