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RBS chairman Sir Philip Hampton to join GlaxoSmithKline | |
(about 1 hour later) | |
Royal Bank of Scotland (RBS) chairman Sir Philip Hampton is to leave the bank to become GlaxoSmithKline's chairman. | |
Sir Philip will join the UK pharmaceutical company in September next year. | |
He joins at a tough time for GlaxoSmithKline, which was fined $489m in China last week over bribery charges. | |
Sir Philip took the helm of RBS, which is 80% owned by the taxpayer, at the height of the financial crisis. | |
In a statement, he said: "It has been a privilege to serve as chairman of RBS since 2009. | |
"I am looking forward to working with my colleagues in the months ahead as we work to implement the bank's strategy and continue to improve the support we provide to our customers." | |
Sir Philip has previously been finance director at Lloyds TSB, BT, British Gas and British Steel. | |
He is also a former chairman of UK Financial Investments, which manages the UK Government's shareholdings in banks. |