NatWest names Rowland to succeed Lord Alexander as chairman in April

Article Abstract:

National Westminster Bank PLC of the UK has announced naming Sir David Rowland as the successor to chairman Lord Alexander, effective April 1999. The appointment of the bank's new chairman corresponds with its new image as a lean focused retail lender and ends months of speculation. Lord Alexander plans to retire at the annual bankholder meeting of NatWest in April 1998. Rowland is expected by analysts to take a less active role than his predecessor, with majority of the daily responsibilities handed to NatWest CEO Derek Wanless.

Comment:

Announces naming Sir David Rowland as the successor of chairman Lord Alexander, effective April 1999

Executive changes & profiles, National Westminster Bank PLC (London, England), Article

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Bank of Scotland plans intense pruning

Article Abstract:

Bank of Scotland PLC introduced a cost-reduction strategy that is designed to cut costs by more than 1 billion pound sterling (1.55 billion euros) annually. This is contingent upon the successful acquisition of National Westminster Bank PLC (NatWest). Bank of Scotland has made an offer of 20.85 billion pound sterling to acquire National Westminster. Bank of Scotland is predicting that 50% of its forecasted savings will come from the improved management of NatWest.

Financial management, Banking industry, Finance, Bank of Scotland, Abstract

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