An interim successor has been appointed, the bank said.

Mike Regan, who has been finance director at Coutts since July 2016, is stepping down, this publication can confirm. 

His role has been that of “finance director for the RBS private banking franchise, including both Coutts and Adam [&Co] businesses”, according to his Linkedin profile. Prior to this, he was head of resource management, commercial and private banking finance at Royal Bank of Scotland. He has been at RBS for a total of nine years. Previous employers include WestLB and UBS. 

“After nine years with the bank we are sad to confirm that Mike Regan has decided the time is right for him to pursue new opportunities outside of the organisation.  Mike has been a key member of the private banking executive committee and we thank him for his leadership and strong contribution to our significant and successful change programme. We wish him every success with his new endeavours,” Peter Flavel, chief executive of Coutts, said in a statement emailed to WealthBriefing. 

Andrew Kyle has taken over from Regan on an interim basis. Kyle brings more than 15 years' experience in financial services and has been with the bank for 12 years. Most recently, he was interim head of finance business partnering innovation, focusing on commercial innovation ventures.

UK-listed RBS is due to issue full-year 2018 and fourth quarter figures on 15 February.