LONDON, UK: NatWest Group plc, one of the largest banking and financial services groups in the UK, has announced that Paul Thwaite has been appointed as the Group Chief Executive for an initial period of 12 months, subject to regulatory approval. The appointment took effect from 25 July 2023, following the resignation of Alison Rose, who stepped down after two years in the role.
Paul Thwaite is a veteran banker who has been with NatWest Group since 1994. He was previously the CEO of Commercial and Institutional, the division that supports business customers ranging from start-ups to multinationals. He also led the Group’s response to supporting UK businesses during the Covid-19 pandemic. He will continue to oversee this division along with his new responsibilities as the Group CEO.
In addition, Paul Thwaite has also been appointed as the Chief Executive of NatWest Holdings Limited, The Royal Bank of Scotland plc and National Westminster Bank Plc, which are the main subsidiaries of NatWest Group. He will report to Howard Davies, the Chairman of NatWest Group.
Paul Thwaite holds a number of financial services advisory and non-executive roles and is a member of the Whitehall Industry Group and the UK Government’s Business Finance Council. He previously served as a director of Motability Operations Group plc, a company that provides mobility solutions for disabled people, from 30 September 2016 to 1 March 2021.
Howard Davies said: “I am delighted to welcome Paul Thwaite as the interim CEO of NatWest Group. Paul has a wealth of experience and a proven track record of delivering results and driving transformation across our businesses. He is well respected by our customers, colleagues and stakeholders, and I am confident that he will lead the Group with vision and integrity during this transitional period.”
Paul Thwaite said: “I am honoured and excited to take on this role at NatWest Group. I have been part of this organisation for almost three decades and I am passionate about its purpose and values. I look forward to working with our talented teams across the Group to build on our strong foundations and deliver sustainable value for our customers, shareholders and society.”
NatWest Group plc is an international banking and financial services group that operates in the UK, Europe and North America. It offers a range of products and services to personal, commercial, corporate and institutional customers through its brands such as NatWest, Royal Bank of Scotland, Ulster Bank, Coutts and Adam & Company. It has around 19 million customers and employs over 60,000 people.
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