RBS chair Hampton to exit for Glaxo role

RBS chairman Sir Philip Hampton is to leave the bank in order to take up an identical position at GlaxoSmithKline, according to reports.

Sky News reports Hampton, who has chaired the bank since February 2009, will join Glaxo as a non-executive director at the turn of the year before taking over as chairman from Sir Christopher Gent after the 2015 general election. The news agency has previously reported that RBS has begun to search for Hampton's replacement ahead of his expected exit. Hampton will also be expected to identify an eventual successor to CEO Sir Andrew Witty, according to the report. Hampton's role at RBS coincided with the arrival of former CEO Stephen Hester in early 2009, shortly after the bank's £45...