 Hourican quit to "demonstrate responsibility", following RBS's £390 million fine for its involvement in the Libor scandal, although he was not personally implicated.The Independent noted that Hourican "fell on his sword" and that "the City wondered if he could recover his career", but added "it had never been alleged that the head of RBS's investment bank knew about the collusion".In 2013, John Hourican was named CEO of Bank of Cyprus.