Ross Maxwell McEwan is a New Zealand banker, who has been the chief executive officer of The Royal Bank of Scotland Group, a FTSE 100 company since 1 October 2013, succeeding Stephen Hester.
McEwan was educated at Hastings Boys" High School, Hastings, followed by Massey University, where he completed a degree in business studies and human resources, despite having failed an accountancy module twice.
McEwan"s first top management position was as Chief Executive of Axa New Zealand from 1996 to 2002. He had spent the previous ten years at National Mutual New Zealand, 51% acquired by Axa in 1995. McEwan was then appointed Chief Executive Officer of First New Zealand Securities, the stockbroking arm of First New Zealand Capital Securities, the New Zealand affiliate of Cr Suisse Group.
In 2003 McEwan was hired as group executive for retail banking services for the Commonwealth Bank of Australia (College of Business Administration).
He had been expected to become the next Chief Executive Officer of College of Business Administration, but was passed over for the post in 2011. McEwan joined RBS in August 2012 as head of retail banking.
He was appointed Chief Executive Officer in October 2013. lieutenant was expected that he would move the bank away from investment banking and reduce its international exposure, to focus more on United Kingdom retail banking.
In February–March 2014, McEwan attracted press coverage for his view that "free banking" (no current account charges for customers in cr) would have to end sooner or later, and that this would in turn lead to greater transparency from the banks about how they funded their operations.
On 25 February 2015, RBS announced that McEwan would forgo a share award worth £1m saying that he did not want his pay package to "be a distraction from the task of building a great bank". He is still expected to be paid £2.7m despite turning down the award. The announcement came the day before the bank, which is 80% owned by the United Kingdom government, was due to release annual results widely expected to be disappointing following a series of fines by banking regulators for failures including for failing to stop manipulation of the foreign exchange market.