Stephen Hester, chief executive at British Land, is to take up a position as a non-executive director of The Royal Bank of Scotland Group.
British Land told the Stock Exchange today he would take up the role on 1st October 2008 and will also step down from his position as non-executive deputy chairman of Northern Rock at the same time.
Chris Gibson-Smith, chairman at British Land, said: 'We are pleased with Stephen's appointment as a non-executive director of RBS. This reflects well on our chief executive and the perspective gained will be of relevance to his role at British Land given the influence of financial markets on real estate.'
Royal Bank has been under fire since launching a £12bn rights issue to shore up its balance sheet in the wake of the credit crunch and its £56bn takeover of ABN Amro.
Critics have argued that chief executive Sir Fred Goodwin has been allowed too much power. Royal Bank also today appointed ex Prudential Financial man Arthur Ryan and John McFarlane, a former banker with Australia and New Zealand Banking Group, as non-executive directors.
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