Royal Bank of Scotland Group Plc. (RBS,RBS.L) has appointed former regulator Jon Pain to the newly created role of overseeing regulatory affairs and conduct, reports said. He is said to join RBS in August and will be part of the executive committee.
The appointment comes after the lender earlier this year agreed to pay about $612 million to U.S. and UK regulators to settle allegations that the company's employees tried to manipulate key global benchmark interest rates.
Pain served the Financial Services Authority for four years until 2011. He was a managing director of supervision in 2011. He comes to RBS from KPMG where he is partner for financial services. He worked for Lloyds from 1973 to 2008.
RBS.L fell more than 3 percent on Friday to close at 327 pence.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.