KPMG accountant to take senior RBS board role

Brendan Nelson, currently in a senior accounting job with KPMG, is to join the board of Royal Bank of Scotland, it has been revealed.

In a statement released yesterday (March 10th) it was revealed that he will become chairman of the group's audit committee overseeing banking operations as well as becoming a non-executive director.

He will formally assume his duties at the conclusion of the group's annual general meeting, replacing current chairman Archie Hunter, on April 28th.

Mr Nelson has operated as global chairman of KPMG's lower-case the s financial services practice since 2002 and was vice-chairman of the firm's UK operations before Wednesday's announcement (March 10th).

RBS group chairman Sir Phillip Hampton said he is pleased that Mr Nelson has agreed to join the board and assume "an important role".

"Brendan has a wealth of experience in the financial services sector," he said.

Mr Nelson has previously occupied the role of chairman of the audit committee of the Institute of Chartered Accountants in Scotland and was recently appointed to the board of the UK's Financial Services Skills Council.

Updated: 11 March 2010.
Categories: banking-and-financial-services, finance-and-accounting, market-and-industry-news.