The head of the Airports Commission, Sir Howard Davies, was today confirmed as new chairman of Royal Bank of Scotland
He will succeed Philip Hampton and take up the new role at the bank on September 1.
Sir Howard will complete his work as chairman of the Airports Commission before assuming the role at RBS, which today reported a 2014 loss of £3.5 billion, down from a loss of £9 billion the previous year.
The commission is due to deliver its recommendations for expanded airport capacity in the southeast after the general election in May.
Sir Howard’s past roles include chairman of the Financial Services Authority, deputy governor of the Bank of England, director general of the Confederation of British Industry and CEO of the Audit Commission.