NatWest Group has today announced that Isabelle Girolami, current Head of Corporate & Institutional Banking (CIB), will become Chief Executive Officer of Commercial & Institutional (C&I) and join the Group Executive Committee from 1 January 2027, subject to regulatory approval.
Jonathan Peberdy, current CEO of NatWest Markets, will become Head of CIB Ring-Fenced Bank (RFB). Jonathan will be succeeded by Walid Assaf as the new CEO of Markets, subject to regulatory approval. Walid will join NatWest from Crédit Agricole CIB, where he led Global Markets Trading, and has 30 years of experience leading trading, franchise development and risk management across Europe, the Americas and Asia.
Robert Begbie, current CEO of Commercial & Institutional, will become Executive Chair, Scotland and Senior Advisor, C&I. He will lead the Royal Bank of Scotland’s work in Scotland as it approaches its 300th anniversary next year.
These appointments will position the business for its next phase of growth, building on a period of strong performance from the UK’s biggest bank for business. NatWest supports over 1.5 million business customers and is one of the UK’s leading bank for startups, banking one in five start-ups (20%). It is the number one lender to infrastructure and project finance, the number one lender for social housing in the UK, and earlier this year launched a dedicated venture banking business to support the UK’s most ambitious high growth companies and the investors backing them.
Group CEO Paul Thwaite said: “We have a leading Commercial & Institutional franchise that is delivering excellent outcomes for customers, making significant progress against its strategic ambitions and is well positioned for future growth. Isabelle, Jonathan and Walid’s appointments will build on the strong foundations already in place as we move into the next phase of growth for our customers, colleagues and shareholders.”
Isabelle Girolami said: “It will be a privilege to lead our Commercial & Institutional franchise, supporting customers and businesses of all sizes, from start-ups to large corporates and multinationals. As the UK’s biggest bank for business, we have an important role to play in supporting growth and I’m looking forward to building on the momentum and realising the significant opportunities ahead.”
Robert Begbie said: “I’m incredibly proud of what we’ve achieved in C&I over the past few years and the strong position the franchise is in today. By helping businesses access the capital, networks and expertise they need to grow, we can turn ambition into sustainable success and play an important role in supporting the long-term potential of the UK.
“As we approach the 300th anniversary of Royal Bank of Scotland, I’m looking forward to building on that proud history, supporting our customers’ ambitions and helping drive growth across Scotland.”
Notes to editors:
- Isabelle joined NatWest Group in 2025 as Head of Corporate & Institutional Banking. Since joining, she has played a key role in shaping and delivering the division's strategy, supporting customers across large corporates, financial institutions, funds and sponsors.
Prior to joining NatWest, Isabelle was Chief Executive Officer of LCH Ltd and previously held a number of senior international leadership positions at Crédit Agricole CIB, Standard Chartered and BNP Paribas.
