Ross McEwan has been appointed as a director and group chief executive of The Royal Bank of Scotland Group plc (RBS), with effect from 1 October 2013.

McEwan joined RBS as the UK Retail CEO in September 2012.

Philip Hampton, RBS chairman, said: “With his extensive experience in banking and the leadership that he has shown in his time at RBS, Ross will be a great chief executive for the Group. Ross has already become a champion for customers in our business and will continue that role as CEO.

“This is a job that is among the most important and challenging in the business world, and Ross has shown that he has the drive and capability to take it on. I conducted an international search for this position so our internal candidates could be benchmarked against the very best in the market. Ross was the strongest candidate and I am delighted he has been appointed.

“Five years on from its rescue, RBS is now a safe and strong bank – our focus is now on building a really good bank for our customers and shareholders, returning the bank to private ownership, and playing our full part in supporting the UK economy.

“The Board and I very much look forward to the fresh perspective Ross will bring to achieving these goals. I would like to thank Stephen Hester for his dedication to RBS and congratulate him on his success in turning this bank around.”

McEwan said: “We are a bank that millions of British families have entrusted with their finances. We support more companies – from the very smallest to the very biggest – than any other bank in the UK. Our international business helps customers access global markets and export goods and services around the world. It will be a privilege to lead a bank that matters to so many and I thank the Board for their confidence in me.

“Stephen Hester and all of our employees have done a remarkable job in saving this Bank. And now five years on we are ready to focus on the future. I look forward to leading RBS as it plays its full role in supporting our customers. We have a lot of work ahead of us and I’m very much looking forward to getting started.”

Hester added: “Ross has an outstanding track record and I congratulate him on being appointed RBS chief executive. He is a person of integrity who has been a valued colleague over the past year.

“I have enjoyed working with him and am pleased to be leaving RBS in the hands of a leader so focused on the needs of our customers.”