RBS chief: The toughest job in banking? Stephen Hester, the taxpayer-backed lender's outgoing chief executive, could probably add a few more, but was sufficiently diplomatic yesterday to concur with Sir Philip's list. Since taking over at RBS following its bailout in October 2008, Mr Hester has been on a relentless treadmill of crises, facing everything from full blown media and political storm over his pay, to a disastrous week-long collapse of the bank's computer systems. Which way things turn out will largely be dependent on who is found to replace him. Despite Sir Philip's assertion that many leading candidates would love to run a "big, interesting bank," this will be tested as any successor will not unreasonably want assurances that they will be left alone to run RBS as they see fit. This will require George Osborne and the Treasury to offer some pretty binding commitments to Mr Hester's successor to the effect that they have their back whatever political heat comes their way. Internally there are a couple of potential candidates who could potentially step up to the chief executive role, however, it would seem most likely that no boss will come from outside the bank and probably outside the UK. Across the world there is now a generation of banking leaders who have led their respective institutions through the financial crisis and its aftermath. As with the Bank of England appointment of Canadian central bank governor Mark Carney, North America could prove a fertile hunting ground for a replacement, as could Australia.