Royal Bank of Scotland sets Hampton as new Chairman

Royal Bank of Scotland, the U.K. state-controlled bank named Philip Hampton as its new Chairman.

Hampton who is Chairman at the U.K. Financial Initiative since November 2008, will begin working for RBS on January 19, the company said in a statement, according to Regulatory News service Friday.

The U.K. government now owns about 58 percent of the bank after it injected $20 billion pounds last year.