Sullivan set for RBSI exit

Royal Bank of Scotland Insurance chief executive Chris Sullivan is leaving his position at the end of July to take on a new role within the bank.

He will be replaced by Paul Geddes, currently chief executive of UK Retail, who will join the executive committee.

Sullivan, who has managed the business since November 2006, will become chief executive of its UK corporate banking division. In a statement, RBS said: "Chris Sullivan has overseen considerable success for RBS Insurance since November 2006 including a record performance in 2008."

Geddes has been chief executive of the bank's UK retail business since December 2006. RBS said Geddes has "driven a successful period for the division - growing income and strengthening market share and customer satisfaction."

He joined RBS in 2004 as managing director, marketing & strategy, retail banking before becoming chief executive of retail banking, where he is currently responsible for around 30,000 people serving over 12 million customers. He graduated from Oxford University and started his career with Procter & Gamble in the UK and Europe.

From 1997 he worked for Kingfisher plc as head of marketing at Superdrug, then marketing director of Comet when he also ran the Comet Direct franchise. In 2001, Geddes joined the board of Argos as marketing director, also running the award winning online business Argos.co.uk. During this time Argos doubled profit, added 50% to sales and won awards for marketing, eCommerce and in 2003 was named retailer of the year.

Stephen Hester, RBS Group chief executive said: "Chris and Paul have impressed me since we began working together in recent months and are well suited for their new roles."

RBS has also appointed Brian Hartzer from ANZ to assume responsibility for its UK retail, wealth and Ulster Bank divisions.