Ex-RBS director agrees to FSA lifetime ban

The former head of Royal Bank of Scotland's investment banking business has been banned from holding a senior role in the City again.

The Financial Services Authority (FSA) said Johnny Cameron had agreed to the decision following an investigation into systems and controls in the global markets division at RBS. Mr Cameron will not face a fine as a result of his settlement, but will never be able to hold another top job in the City or full-time role in the UK financial services industry.

The FSA said it had not found Mr Cameron guilty of any regulatory breaches and he had not made any admissions. He will not be stopped from taking on part-time consultancy work in the financial services sector.