Skip to main content
C
CorpDigest
Search

NatWest Group plc

Diversified Banking & Financial ServicesFounded 1727
Reviewed by Swet Parvadiya
Company data updated: October 2026

Leadership History

NatWest: CEO History

6 leaders · 1992 to present

Who is the CEO of NatWest?

Paul Thwaite is the CEO of NatWest, in the role since 2024. The first chief executive was George Mathewson, from 1992.

Current CEO
Paul Thwaite (since 2024)
First CEO
George Mathewson (1992)
Leaders documented
6
Founded
1727
NameRoleFromToYears in role
Paul ThwaiteGroup Chief Executive Officer2024Present2
Alison RoseFormer Group Chief Executive Officer201920234
Ross McEwanGroup Chief Executive201320196
Stephen HesterGroup Chief Executive200820135
Fred GoodwinFormer Chief Executive, Royal Bank of Scotland Group200120087
George MathewsonChief Executive Officer199220019
Who was CEO of NatWest before Paul Thwaite?
Alison Rose was CEO of NatWest from 2019 to 2023, before Paul Thwaite took over in 2024.

Company Overview

NatWest Group is one of the UK's largest banks, headquartered at Gogarburn in Edinburgh and listed on the London Stock Exchange (NWG) with ADRs on the NYSE. It serves more than 20 million people, families and businesses through the NatWest, Royal Bank of Scotland, Ulster Bank, Coutts and Evelyn Partners brands. Unlike Barclays or HSBC it has only a modest markets business; its earnings come mainly from UK mortgages, deposits, business banking and wealth management. The company is headquartered in London, United Kingdom. The British commercial and retail banking giant traces its origins to the 1727 Royal Charter of The Royal Bank of Scotland in Edinburgh and the 1968 merger creating National Westminster Bank in London, surviving a historic 2008 bailout before returning to full private ownership.

Paul Thwaite

Group Chief Executive Officer

2024 – Present

2 years (current)

Key Decisions & Impact

Appointed interim CEO in July 2023 after Alison Rose resigned and confirmed in February 2024, Thwaite oversaw the government's final share sales in 2025, bought Sainsbury's Bank's core banking assets and a Metro Bank mortgage book in 2024, and agreed the ~$3.56 billion (£2.7 billion) Evelyn Partners deal in February 2026.

Legacy

Under Thwaite, NatWest lifted RoTE to 19.2% in 2025 and 19.7% in H1 2026, returned ~$5.41 billion (£4.1 billion) to shareholders for 2025, and shifted the mix toward fee income through wealth management.

Source →

Alison Rose

Former Group Chief Executive Officer

2019 – 2023

4 years

Key Decisions & Impact

Rose renamed the parent company NatWest Group in 2020, began the wind-down of Ulster Bank in the Republic of Ireland in 2021, and steered the bank through the pandemic. She resigned in July 2023 after admitting a serious error of judgement in discussing Nigel Farage's Coutts account with a BBC journalist.

Legacy

She was the first woman to lead a major UK bank and oversaw the return to steady profitability, but her tenure ended over the Coutts account-closure episode.

Source →

Ross McEwan

Group Chief Executive

2013 – 2019

6 years

Key Decisions & Impact

McEwan became chief executive of Royal Bank of Scotland Group in October 2013 and shrank the investment bank to refocus on UK retail and commercial banking.

Legacy

The bank returned to annual profit in 2017 and resumed dividends in 2018. Alison Rose succeeded him in November 2019.

Source →

Stephen Hester

Group Chief Executive

2008 – 2013

5 years

Key Decisions & Impact

Hester became chief executive in November 2008 after the government bailout and ran down more than 250 billion pounds of non-core assets.

Legacy

He floated the insurer Direct Line in 2012 as required by European state-aid rules. Ross McEwan succeeded him in 2013.

Source →

Fred Goodwin

Former Chief Executive, Royal Bank of Scotland Group

2001 – 2008

7 years

Key Decisions & Impact

Goodwin led the integration of NatWest after the 2000 takeover, then a rapid acquisition programme that culminated in the 2007 consortium purchase of ABN AMRO for about $80.2 billion (€71 billion).

Legacy

The ABN AMRO deal left RBS short of capital when the crisis hit, leading to the 2008 government rescue. Goodwin left in 2008 and his knighthood was annulled in 2012.

Source →

George Mathewson

Chief Executive Officer

1992 – 2001

9 years

Legacy

George Mathewson served as chief executive of NatWest Group plc from 1992 to 2001.

Source →

Challenges & Strategic Context

NatWest risks include UK interest-rate shifts, deposit competition, credit losses, regulatory scrutiny, mortgage refinancing pressure, digital challenger competition, and the reputational after-effects of the Coutts debanking episode. Its focus on the UK creates operating simplicity but also ties performance closely to UK households, businesses, and policy decisions.

NatWest CEO and Leadership FAQ

Who are the key Chief Executive Officers who shaped modern NatWest Group?

Key chief executives who defined the bank's modern trajectory include Fred Goodwin (2001-2008; aggressive expansion and ABN AMRO acquisition), Stephen Hester (2008-2013; restructuring and deleveraging), Ross McEwan (2013-2019; simplification and return to profitability), Alison Rose (2019-2023; digital transformation and rebranding), and Paul Thwaite (2023-present; commercial execution and privatization).

What led to the downfall of Fred Goodwin during the 2008 financial crisis?

Fred Goodwin pursued aggressive debt-fueled acquisitions, culminating in the ill-timed ~$80.2 billion (€71 billion) consortium takeover of Dutch bank ABN AMRO in late 2007, which left RBS with depleted capital reserves and toxic assets, forcing an emergency ~$60.1 billion (£45.5 billion) government bailout and Goodwin's ouster.

How did Stephen Hester stabilize Royal Bank of Scotland between 2008 and 2013?

Stephen Hester executed one of the largest corporate turnaround and deleveraging programs in history, shedding over $1.32 trillion (£1 trillion) in non-core assets, winding down high-risk investment banking divisions, and rebuilding RBS's core tier-1 capital reserves.

What strategic transformations did Ross McEwan accomplish as CEO from 2013 to 2019?

Ross McEwan refocused RBS as a domestic UK and Republic of Ireland retail and commercial bank, divesting US subsidiary Citizens Financial Group, resolving major US Department of Justice mortgage-backed securities litigation, and posting the bank's first annual profit in a decade in 2017.

What was Alison Rose's legacy and why did she step down as CEO in 2023?

Alison Rose, the first woman to lead a major UK clearing bank, championed digital banking, purpose-led financial health, and female entrepreneurship (the Rose Review). She resigned in July 2023 after admitting to an error of judgment regarding discussions with a BBC journalist about Nigel Farage's Coutts account.

How did Paul Thwaite take over executive leadership at NatWest Group?

Paul Thwaite, previously head of NatWest's Commercial & Institutional business, was appointed interim CEO in July 2023 to restore institutional stability, and was confirmed as permanent CEO in February 2024 with a mandate to drive shareholder returns and complete full privatization.

What is CEO Paul Thwaite's strategic priority for NatWest Group?

Since privatisation in May 2025, Thwaite's priorities have been growth across all three businesses, simplification through AI and digital tools, and capital discipline. The ~$3.56 billion (£2.7 billion) Evelyn Partners deal in 2026 shifted the mix toward fee income, and NatWest targets a RoTE above 18% through 2028.

Who serves as the Chairman of the Board of NatWest Group?

Rick Haythornthwaite serves as Chair of the Board of NatWest Group, having succeeded Sir Howard Davies in April 2024 to oversee board governance, executive succession, and strategic stakeholder relations.

Who is Paul Thwaite and how did he become CEO of NatWest Group?

Paul Thwaite was appointed CEO of NatWest Group in 2023, succeeding Dame Alison Rose following the high-profile Nigel Farage Coutts de-banking controversy. A veteran of NatWest who previously led its Commercial & Institutional division, Thwaite restored executive stability, completed the bank's full privatization, and accelerated digital banking automation.

Related Leadership Timelines

Compare executive leadership tenures and strategic transitions

Competitor

Lloyds Banking

View Leadership Timelines
Competitor

Barclays

View Leadership Timelines
Competitor

Hsbc

View Leadership Timelines

Explore NatWest

Core profile pages, founders and related research hubs for this company.

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.