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RBS Chief McEwan hopes to resolve Justice Department case in 2018

March 20, 2018 at 06:56 am EDT

LONDON (Reuters) - Royal Bank of Scotland hopes to reach a settlement with the U.S. Justice Department over alleged mis-selling of toxic mortgage-backed securities this year, its chief executive said on Tuesday, although it has no news on the timing of any deal.

"I've got the timing of this completely wrong for the last 15 months, I thought we would've had it tidied by end-2017... all I'd say (is) it will be in hopefully in 2018," Ross McEwan said at the Morgan Stanley European Financials conference in London.

The expected multi-billion-dollar settlement would be a key milestone for the state-owned lender, allowing it to resume paying dividends to shareholders and paving the way for the British government to resume selling its shares in the lender.

(Reporting By Lawrence White and Emma Rumney; editing by Simon Jessop)

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Ross McEwan

Ross Maxwell McEwan is an of New Zealand businessperson who has been the head of 14 different companies. He is Group CEO, Managing Director & Director at National Australia Bank Ltd. and Group Chief Executive Officer & Managing Director at National Australia Bank Ltd. (Broker) (a subsidiary of National Australia Bank Ltd.) and Chief Executive Officer & Executive Director at Ulster Bank Ltd. He is also on the board of National Australia Bank Ltd. (London Branch), The Financial Markets Foundation for Children, Natwest Holdings Ltd. and Australian Banking Association. In his past career Ross Maxwell McEwan occupied the position of Group Executive-Retail Banking Services at Commonwealth Bank of Australia and Head-Retail Banking & Marketing at ASB Group (Life) Ltd. (a subsidiary of Commonwealth Bank of Australia), Chief Executive Officer at AMP New Zealand Holdings Ltd., Chief Executive Officer & Executive Director at NatWest Group Plc, Chief Executive Officer & Executive Director at The Royal Bank of Scotland Plc, Group Chief Executive Officer & Managing Director at IOOF Investment Services Ltd., Chief Executive Officer of National Westminster Bank Plc, Chief Executive Officer for NatWest Markets Plc (Investment Management), Chief Executive Officer of NatWest Markets Plc, President & Chief Executive Officer at The National Mutual Life Association of Australasia Ltd., Chief Executive Officer for National Westminster Bank Plc (Private Banking), Chief Executive Officer of NatWest Markets Plc (Broker) and Managing Director at Jarden Securities Ltd. Ross Maxwell McEwan received an MBA from Harvard Business School and an undergraduate degree from Massey University.

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Linked companies
Ulster Bank Ltd. Ulster Bank Ltd. Regional BanksFinance Ulster Bank Ltd. operates as a bank. It offers retail banking and corporate banking. The firm specializes in Personal Banking, Business Banking, Private Banking, Corporate Banking, Mobile Banking, Online Banking. The company was founded on July 1, 1836 and is headquartered in Belfast, the United Kingdom.	Chief Executive Officer
National Australia Bank Ltd. (Broker)	Chief Executive Officer