Tiner quits RBS bidding group

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Tiner, the former chief executive of the Financial Services Authority (FSA) has stepped down as leader of the consortium bidding for 316 Royal Bank of Scotland (RBS) branches.

Tiner, who was revealed as the man leading the bid just last month, is understood to have left due to the scathing parliamentary report into the collapse of HBOS, which criticised the role of the FSA in the debacle. Tiner was chief executive of the City watchdog from 2003 until 2007.