Royal Bank of Scotland on Monday announced a new chairman for Asia, the latest in a series of high-level executive changes at the British government-owned lender.
R.B.S. said Donald Workman had been appointed as executive chairman of its Asia unit, replacing John McCormick, who the bank announced on Monday was leaving after 17 years of service.
The departure of Mr. McCormick follows other top-level changes at the bank this year, including the replacement of its head of investment banking and its chief financial officer, as Steven Hester, group chief executive of the bank, realigns his management team.
R.B.S., based in Edinburgh and 81 percent owned by the British government, has laid off more than 30,000 people since the financial crisis and this month announced a new round of 1,400 job cuts.
The bank swung to profit in the first quarter of this year compared with a heavy loss in the year-earlier period, and said it hopes to start reducing the government’s stake next year.
Mr. Workman, a 21-year veteran of R.B.S., most recently served as the head of the asset protection program at the bank, a role that focused on the ongoing restructuring. In his new role he will report John Owen, the head of international banking, as well as to the co-heads of capital markets business at the bank.
