Stephen Hester
| Stephen Hester | |
|---|---|
Hester in 2014
|
|
| Born |
14 December 1960 Yorkshire, England |
| Nationality | British |
| Education | Easingwold School |
| Alma mater | Lady Margaret Hall, Oxford University |
| Occupation | Businessman |
| Years active | 1982–present |
| Salary | GBP £4 million (total compensation) |
| Title | CEO, RSA Insurance Group |
| Spouse(s) | Barbara Abt (m. 1991) |
| Children | 5 |
Stephen A. M. Hester (born 14 December 1960) is an English businessman and former banker, the chief executive officer (CEO) of RSA Insurance Group and former CEO of the RBS Group.
Hester is the eldest son of Ronald, a chemistry professor at the University of York, and Dr Bridget Hester, a psychotherapist. He grew up in the village of Crayke in North Yorkshire. He was educated at Easingwold School in North Yorkshire a rural comprehensive school, and at Oxford where he studied at Lady Margaret Hall, and after chairing the Tory Reform Group, graduated with a first class honours degree in Philosophy, Politics and Economics.
Hester began his career in 1982 with Credit Suisse, where he started as the chairman's assistant. In 1996 he was appointed to the executive board. Hester held the position of chief financial officer and Head of Support Division, until May 2000. From May 2000 to September 2001, he was Head of the Fixed Income Division.
In May 2002, he joined Abbey National as Finance Director. He then went on to become chief operating officer, a position he held until November 2004, when he was appointed Chief Executive of British Land. In early 2007, eight months before British Land and other REITs were caught in the commercial property slump, he said: "I don't believe we are about to see a market decline, but the period of sharp growth is over."
Hester was appointed non-executive deputy chairman of the newly nationalised Northern Rock by Chancellor of the Exchequer Alistair Darling in March 2008, a role which he resigned from in September 2008 to take a non-executive position on the board of Royal Bank of Scotland.
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