Royal Bank of Scotland plc said on Thursday that Chief Executive Ross McEwan has resigned from his role.
McEwan has a 12 month notice period and will remain in his position until a successor has been appointed and an orderly handover has taken place, the bank said.
Thee date of his departure will be confirmed in due course.
“After over five and a half very rewarding years, and with the bank in a much stronger financial position it is time for me to step down as CEO,” he said in a statement.
“It has been a privilege to lead this great bank and to have worked with some really outstanding people in process.”
RBS is hosting its annual general meeting on Thursday.