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Nathan Bostock (b. 1960) is a British banker who is currently the Head of Risk and Restructuring at the Royal Bank of Scotland. [1] His job - described by a bank analyst as "the toughest in banking" - is to oversee the run-down and disposal of £540bn of "toxic assets" at the bank. [2][3] In 2011 he was paid £3.6m - £300,000 more than the company's Chief Executive.[4] He moved to RBS from Abbey National in 2009, where he had been Finance Director, having worked there since 2001. [5]. In 2011 he turned down a move to head up the wholesale division of Lloyds Banking Group, reportedly due to the ill-health absence of their chief executive, António Horta-Osório. [5][1]
Mr Bostock's father is an applied mathematician who specialised in game theory. [3] He graduated with a BSc (Hons) in Mathematics and went on to train as a Chartered Accountant with the "Big 8" accountancy firm Coopers & Lybrand (now PricewaterhouseCoopers), where he qualified in 1985. [2] From 1988 to 1992 he worked for Chase Manhattan Bank in risk analysis and interest rate derivatives and then for RBS from 1991 to 2001, where he was Chief Operating Officer of Treasury and Capital Markets and Group Risk Director. He joined Abbey National in 2001, where he oversaw the winding down and disposal of their non-retail assets before becoming Finance Director. He left to re-join RBS in 2009, following their bailout by the UK government. [6]
He lives on a farm outside Maidstone, Kent. He has two sons and is a rugby football fan. [2]
References
edit- ^ a b RBS lines up Nathan Bostock as finance chief, Financial Times, 2 April 2013
- ^ a b c Saturday profile: Nathan Bostock, The Scotsman, 27 Feb 2009
- ^ a b The Business On... Nathan Bostock Head of wholesale banking, Lloyds, The Independent, 3 April 2013
- ^ RBS rewards head of restructuring with pay rise, eFinancialNews, 9 Mar 2012
- ^ a b Nathan Bostock leaves RBS to join rivals Lloyds, BBC, 19 July 2011
- ^ Executive Committee (extract from 2011 accounts), Royal Bank of Scotland, 2012.