Board and Governance overview

Corporate Governance

Natwest Group is committed to the highest standards of corporate governance, business integrity and professionalism in all its activities.

Throughout the year ended 31 December 2021, NatWest Group plc (“the company”) applied the Principles and complied with all of the Provisions of the UK Corporate Governance Code issued by the Financial Reporting Council dated July 2018 (the “Code”), subject to the exceptions disclosed in the statement of compliance set out on page 181 of the Annual Report and Accounts 2021 (PDF 5.8MB).

Articles of Association

The current Articles of Association were adopted by special resolution passed on 28 April 2021.

Download Articles of Association (PDF 626KB)

Board and Committees

The company is governed by its Board and Committees.

The Board of Directors is the principal decision-making forum for the company.  In order to provide effective oversight and leadership, the Board has established a number of Board Committees with particular responsibilities.  All other matters, including day to day responsibility for the operations of the company are delegated to the Group Chief Executive Officer who is supported by the executive management team.

Find out more about the Board of Directors, Board Committees and the executive management team below, including roles and responsibilities, biographies and terms of reference.

Board of Directors

Collectively responsible for promoting the long-term sustainable success of the company, driving shareholder value and NatWest Group’s contribution to wider society.  Its role is to provide leadership of the company within a framework of prudent and effective controls which enables risk to be assessed and managed.

Executive Management team

The Executive Management team supports the Group Chief Executive Officer in managing NatWest Group’s businesses.  The team reviews, challenges and debates relevant items and supports the Group Chief Executive Officer in forming recommendations to the Board.  Matters include strategy, financials, capital, risk and operational issues affecting the NatWest Group as well as monitoring the implementation of cultural change and executive succession planning.  The Executive Management team actively promotes NatWest Group’s culture, values and purpose.

Group Audit Committee

Assists the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of the Group.

Group Board Risk Committee

Provides oversight and advice to the Board in relation to current and potential future risk exposures of the Group, future risk strategy, risk appetite and tolerance. It is also responsible for promoting a risk awareness culture within the Group.

Group Performance and Remuneration Committee

Responsible for the overview of the Group remuneration policy and the directors’ remuneration policy, ensuring that arrangements are designed to promote the long term success of the Group.

Group Sustainable Banking Committee

Supports the Board in overseeing, supporting and challenging actions being taken by management to run the Group as a sustainable business, capable of generating long term value for its stakeholders.

Group Nominations and Governance Committee

Monitors the Group’s governance arrangements and assists the Board in the formal selection and appointment of directors. It reviews the structure, size and composition of the Board, and membership and chairmanship of Board Committees.

Technology and Innovation Committee

Responsible for assisting the Board in overseeing, supporting and challenging actions being taken by management in relation to technology and innovation.