RBS Breaks Away From the Past With Name Change to NatWest (2)

Royal Bank of Scotland Group Plc’s new boss, Alison Rose, is abandoning the bank’s three-century-old name and slashing its markets business as the state-controlled lender steps away from its tumultuous past.

RBS will be renamed NatWest Group Plc later this year, adopting the brand of the sprawling English branch network it acquired in a merger that reshaped British banking two decades ago. Rose is also paring back profit targets and embarking on further cost cutting in her first set of earnings since replacing Ross McEwan.

Alison Rose

Photographer: Jason Alden/Bloomberg

Under McEwan, the bank went through a multi-billion-pound restructuring and returned ...