Lloyds Banking Group vs NatWest: Founders, CEOs and History
Lloyds Banking Group was founded in 1765 by Sampson Lloyd, John Taylor and is led by Charlie Nunn. NatWest was founded in 1727 by Royal Bank of Scotland, National Westminster Bank and is led by Paul Thwaite.
Company facts
Lloyds Banking Group
- Founded
- 1765
- Headquarters
- London, United Kingdom
- Current CEO
- Charlie Nunn
- Employees
- 62,500
NatWest
- Founded
- 1727
- Headquarters
- Edinburgh, Scotland, United Kingdom
- Current CEO
- Paul Thwaite
- Employees
- 60,600
Founders
Lloyds Banking Group
Sampson Lloyd
Sampson Lloyd II was an incredibly powerful English ironmaster, fiercely astute financial pioneer, and the profoundly influential founding patriarch fundamentally responsible for establishing the absolute historic bedrock of the massive Lloyds Banking Group.
John Taylor
John Taylor was a brilliantly innovative English industrialist, highly visionary button manufacturer, and the profoundly influential commercial co-founder fundamentally responsible for the incredibly robust early capital backing of the massive Lloyds Banking G…
NatWest
Royal Bank of Scotland
The Royal Bank of Scotland was chartered in Edinburgh in 1727 as a rival to the Bank of Scotland and in 1728 introduced the cash credit, an early form of overdraft.
National Westminster Bank
National Westminster Bank was created in 1968 by combining National Provincial Bank (founded 1833) and Westminster Bank (founded 1834 as London and Westminster Bank), with District Bank also folded in.
CEOs and their tenures
Lloyds Banking Group
- António Horta-Osório2011–2021
Former Chief Executive Officer
Returned Lloyds to profitability and full private ownership in May 2017; left in April 2021 to chair Credit Suisse.
Source - Charlie Nunn2021–present
Chief Executive Officer
Led Lloyds through higher interest rates and the motor finance review, with 2025 underlying net income of ~$24.2 billion (£18.3 billion) and ~$5.15 billion (£3.9 billion) of distributions.
Source
NatWest
- Fred Goodwin2001–2008
Former Chief Executive, Royal Bank of Scotland Group
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 - Alison Rose2019–2023
Former Group Chief Executive Officer
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 - Paul Thwaite2024–present
Group Chief Executive Officer
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
Timeline: Lloyds Banking Group and NatWest side by side
1727NatWest
Royal Bank of Scotland Founded
The Royal Bank of Scotland is chartered in Edinburgh; a year later it introduces the cash credit, an early overdraft.
1765Lloyds Banking Group
Taylors & Lloyds founded
Sampson Lloyd II and John Taylor open a private bank in Birmingham to serve local industry.
1884Lloyds Banking Group
Move to London and black horse
Lloyds expands into London through acquisitions, later adopting the black horse emblem of a Lombard Street bank it absorbed.
1995Lloyds Banking Group
Lloyds TSB formed
Lloyds Bank merges with TSB Group to form Lloyds TSB; Cheltenham & Gloucester had been acquired earlier the same year.
2000NatWest
The NatWest Takeover
RBS wins a hostile bid of about $27.7 billion (£21 billion) for the larger National Westminster Bank, beating Bank of Scotland.
2007NatWest
ABN AMRO Consortium Takeover
An RBS-led consortium buys ABN AMRO for about $80.2 billion (€71 billion), leaving RBS thinly capitalised as the credit crisis begins.
2008NatWest
The Government Bailout
The UK government injects ~$60.1 billion (£45.5 billion) and takes about 84% of RBS to stop the bank from failing.
2009Lloyds Banking Group
HBOS takeover and bailout
Lloyds TSB completes its takeover of HBOS and becomes Lloyds Banking Group; government recapitalisation leaves the state with about 43%.
2013Lloyds Banking Group
TSB relaunched
Branches divested under EU state aid rules relaunch as TSB, which floats in 2014 and is sold to Sabadell in 2015.
2017Lloyds Banking Group
Return to private ownership; MBNA
The UK government sells its last Lloyds shares in May; Lloyds buys MBNA UK credit cards from Bank of America for about $2.51 billion (£1.9 billion).
2020NatWest
Parent Renamed NatWest Group
The Royal Bank of Scotland Group plc becomes NatWest Group plc in July 2020; RBS stays as the Scottish retail brand.
2021Lloyds Banking Group
Charlie Nunn becomes CEO
Former HSBC executive Charlie Nunn succeeds António Horta-Osório as Group Chief Executive in August.
2025Lloyds Banking Group
Motor finance provision and Lloyds Wealth
Lloyds raises its motor finance provision to ~$2.57 billion (£1.95 billion) and completes the full acquisition of Schroders Personal Wealth, renamed Lloyds Wealth.
2025NatWest
Complete Return to Private Ownership
The UK government sells its last NatWest shares in May 2025, ending state ownership that began in 2008.
2026Lloyds Banking Group
H1 results and 2030 strategy
Net income rises 9% to ~$12.8 billion (£9.7 billion) in H1 2026 and Lloyds launches a new strategy to the end of 2030.
2026NatWest
Evelyn Partners Acquisition Completed
NatWest completes its ~$3.56 billion (£2.7 billion) purchase of wealth manager Evelyn Partners on 30 June 2026, combining it with Coutts.
Acquisitions
Lloyds Banking Group
- Schroders Personal Wealth (remaining stake)2025Undisclosed
- MBNA UK2017$1.9B
- HBOS2009Undisclosed
NatWest
- Rooster Money2021Undisclosed
- ABN AMRO2007$71B
- National Westminster Bank (NatWest)2000$21B
Questions about Lloyds Banking Group vs NatWest
Who is the CEO of Lloyds Banking Group plc and NatWest Group plc?
Lloyds Banking Group plc is led by Charlie Nunn and NatWest Group plc is led by Paul Thwaite. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Lloyds Banking Group plc founded vs NatWest Group plc?
NatWest Group plc was founded in 1727 — 38 years before Lloyds Banking Group plc, which was founded in 1765. NatWest Group plc's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Lloyds Banking Group plc.
How many employees does Lloyds Banking Group plc have compared to NatWest Group plc?
Lloyds Banking Group plc employs approximately 62,500 people, while NatWest Group plc employs approximately 60,600. Lloyds Banking Group plc has the larger workforce at 62,500 employees, compared to NatWest Group plc's 60,600. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Lloyds Banking Group plc and NatWest Group plc headquartered?
Both Lloyds Banking Group plc and NatWest Group plc are headquartered in United Kingdom, meaning they operate under the same primary regulatory and tax environment.
Who founded Lloyds Banking Group plc and NatWest Group plc?
Lloyds Banking Group plc was founded by Sampson Lloyd, John Taylor. NatWest Group plc was founded by Royal Bank of Scotland, National Westminster Bank.
Which company has a longer operating history — Lloyds Banking Group plc or NatWest Group plc?
NatWest Group plc has been operating for approximately 299 years, making it the more established of the two companies. Lloyds Banking Group plc has been in operation for around 261 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Lloyds Banking Group vs NatWest overview