Along with its results the Royal Bank of Scotland (RBS) has announced a new CEO. Kiwi Ross McEwan will take the role from 1 October.
McEwan will take a small pay packet than his predecessor Stephen Hester, taking a £1m annual salary and waiving his bonus.
The new boss thanked his colleagues and Hester, saying both have done a “remarkable job in saving this Bank”.
Hester also gave his blessings, calling McEwan a “person of integrity” and that he is “pleased” to be leaving the bank in his hands.
RBS announced profits before tax of £1.4bn.