NatWest is the UK’s leading business bank and we are proud of the role we play in supporting the UK economy. Our focus now, as it has been throughout the pandemic, is on doing everything we can to support our customers to rebuild and thrive.
Over the last two years we have made good progress on delivering on our strategy - to champion the potential of people, families and businesses - and place the bank on a path to long-term sustainable growth.
As we look to further support our customers’ growth ambitions and deliver on the next phase of our strategy, we are announcing today that we are evolving our Commercial, NatWest Markets and RBS International businesses to form a single franchise to best support our customers across the full non-personal customer lifecycle.
This new franchise, Commercial and Institutional, will enable us to better serve our non-personal customers and support their growth ambitions, deepen our relationships with our customers, and further enhance our plans for sustainable growth.
Commercial and Institutional will be run by Paul Thwaite and Andrew McLaughlin, who will respectively lead the ring fenced and non-ring fenced parts of the business. Robert Begbie will continue as CEO of NatWest Markets and Olly Holbourn will take on the role of CEO for RBS International.*
The transition will begin over the coming months and be effective from July.
Finally, as a relationship bank in a digital world, we are also continuing to create a leading digital, data and technology capability. To ensure clear emphasis on these areas and further accelerate our strategic growth plans, we will re-focus our Services function on digital, data and technology as key drivers of our transformation for our customers. This function will also include our partnerships, innovation, international hub, fraud, financial crime and controls teams.
Alison Rose, NatWest CEO, said:
“As the leading business bank in the UK, evolving our Commercial and Institutional franchise will help us to build even deeper relationships with our commercial, markets and international banking customers. By enhancing our digital, data and technology capabilities, we can also better anticipate how to help customers enjoy an easier, frictionless banking experience. Through continuing to deepen our customer relationships, and delivering efficiently and consistently for our customers, we will accelerate our plans for sustainable growth in our business as we champion the potential of all of our customers.”
*Appointments of Andrew McLaughlin and Olly Holbourn are subject to regulatory approval.
