Crossword Genius

City Bank failing to appoint head of RBC (3)

Ross

I believe the answer is:

ely

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'city' is the definition.
(I've seen this before)

I cannot understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for ely that I've seen before include "'Isle' in Cambridgeshire" , "Cambs. city" , "Diocese in Eastern England" , "English cathedral city" , "Small city in Cambridgeshire" .)

I've seen this clue in The Telegraph.
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