Quoting sources close to RBS, Sky News reported on Tuesday that Gerry Mallon would leave the Ulster to take over as chief executive of Tesco Bank.

Ulster Bank, which this week announced its intention to pay its parent company a dividend of 1.5 billion euros for last year, said in a statement that Mallon would remain in his role until a replacement is identified. 

(Reporting by Padraic Halpin; editing by Jason Neely)