News Article - 27 August 2008
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Royal Bank of Scotland (RBS) has appointed three new non-executive directors.

Stephen Hester, the chief executive of British Land, John McFarlane, a former banker with Australia and New Zealand Banking Group (ANZ) and Arthur Ryan, the former chairman of Prudential Financial of the US will become part of the bank's board from October, reports the Daily Telegraph.

"Their experience in financial services will be of great benefit to RBS given the increasingly diversified and international nature of our powerful banking franchise," said Sir Tom McKillop, the chairman of RBS.

RBS has been under pressure to prove its business health of late after its first-half profits were wiped out because of £5.9 billion of writedowns on assets linked to sub-prime US mortgages.

It also announced it had made losses of £691 million in the first half of 2008, compared with a £5.11 billion pre-tax profit for the same period in 2007.

Part-time directors Lawrence Fish and Charles Koch will be standing down next April, the bank added.

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