Newly re-privatised NatWest names Chamberlain as retail financial institution chief

NatWest Group has picked a brand new head of its excessive avenue department community within the lender’s first important appointment since ending its 17-year tenure in partial taxpayer possession.

Sky Information has learnt that Solange Chamberlain has been chosen as NatWest’s new retail financial institution chief govt, almost six months after predecessor David Lindberg’s departure was introduced.

Ms Chamberlain, who has labored for NatWest since 2019, will take up her new function on 1 July, topic to regulatory approval.

A former funding banker, she’s going to report back to Paul Thwaite, the financial institution’s group chief govt.

NatWest’s retail financial institution has greater than 18 million prospects throughout Britain, making it one of many business’s 4 greatest retail banks alongside Barclays, HSBC and Lloyds Banking Group.

The current acquisition of Sainsbury’s Financial institution added 1 million accounts to NatWest’s retail buyer base.

Responding to an enquiry from Sky Information, NatWest confirmed the appointment on Monday afternoon.

Mr Thwaite mentioned in a press release that Ms Chamberlain’s “data of our prospects, sharp strategic considering, and observe report of transformation supply will assist us to develop our retail enterprise and succeed with prospects”.

On Friday, the Treasury bought the final of its shareholding in NatWest, having bailed out the then Royal Financial institution of Scotland with £45.5bn of taxpayers’ cash through the 2008 monetary disaster.

On Monday, shares within the financial institution had been buying and selling at round 524.6p, giving it a market worth of greater than £42bn.