RBS chief Sir Philip Hampton to leave

Sir Philip Hampton. Picture: Phil Wilkinson

Sir Philip Hampton. Picture: Phil Wilkinson

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THE banking boss who led RBS’s turnaround is set to chair a global drugs company.

Sir Philip Hampton is in line to become chairman of GlaxoSmithKline, with the announcement expected before the weekend.

The 60-year-old was parachuted in to help RBS in 2009 following its £45 billion bailout. He had hoped to oversee the bank’s return to private ownership. But its shares are still trading well below the price the government bought them at, leaving taxpayers with a loss of £13 billion.