New RBS boss Ross McEwan: 'We need to do a better job'
The chief executive of Royal Bank of Scotland - Ross McEwan - has described news that the organisation will not be split in two as "very defining", as it seeks instead to create an internal "bad bank" to hold its problem assets.
The government is backing a new report commissioned by the Treasury, which says damaging loans and property assets should be kept within RBS, but ring-fenced from its other operations.
Mr McEwan admitted to the Today programme's John Humphrys that the mainly state-owned bank had to "do a better job" and get rid of the toxic debts it still holds: "They are a complete distraction to our business.
"We need to be focussing on the 90% of the assets that are good assets... that's where my focus will be."
First broadcast on BBC Radio 4's Today programme on Friday 1 November 2013.
01 Nov 2013
- From the section Business