Royal Bank of Scotland has appointed Vanessa Bailey as chief risk officer (CRO) of its ring-fenced bank, it said in an announcement. She will be based in London. Vanessa Bailey Bailey was formerly interim chief risk officer, NatWest Markets, and assumed her new position on August 20. She will report to group chief risk officer Bruce Fletcher, and Ross McEwan, the chief executive of NatWest Holdings. The new role will also see her joining the NatWest Holdings executive committee and chairing the NatWest Holdings risk executive committee.

Jeremy Arnold has been hired as CRO for NatWest Markets and will report to Fletcher and the division’s chief executive Chris Marks. Arnold is joining from Nomura, where he is currently CRO for Emea, and has more than 25 years’ trading and risk experience. He is due to start his new role on September 3 and will also be based in London.