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Royal Bank of Scotland said it had appointed the current head of its commercial and private banking business, Alison Rose, as its new chief executive officer.
Rose, who was also deputy chief of Natwest, would assume the role on 1 November after Ross McEwan formally stands down.
Chairman Howard Davies said Rose brought 'extensive experience and a track record of success' from her previous roles at the bank.
'Following a rigorous internal and external process, I am confident that we have appointed the best person for the job,' he said.
Rose said the bank was entering 'a new chapter' following years of restructuring under McEwan.
'Our industry is facing a series of challenges; from the ongoing economic and political uncertainty to shifts in the behaviour and expectations of our customers, driven by rapid advances in technology,' she said.
'It will be my priority to make sure we are ready to meet these challenges and build the best bank for families, businesses and communities.'
'We will be driven with real purpose in our work to help achieve the goals and potential of our customers and be there for them at key moments in their lives.'