Chancellor George Osborne has denied claims he forced Royal Bank of Scotland (RBS) chief Stephen Hester to stand down from his position, the BBC reports.
Osborne said Hester decided to go into discussions with the board of RBS himself. The Chancellor told Radio 4's Today programme: "Of course my consent and approval was sought." Hester announced he was quitting the bank last week, after five years in the top job. RBS chairman Sir Philip Hampton said his departure was necessary to process the bank's return to private ownership by the end of 2014, as the Treasury plans. The BBC also said Osborne confirmed he would set out the next steps for how to return RBS and Lloyds Banking Group to the private sector on Wednesday in his annual ...
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