Associate feature: NatWest Group’s Return to Private Ownership

Paul Thwaite, the bank’s Chief Executive Officer, explains why Scotland is still such an important market for the group.

What does returning to private ownership mean to you?

Returning to private ownership after so many years was a hugely symbolic moment – it marks a turning point where we can move beyond being defined by the past and look ahead with confidence and optimism.

I lived in Edinburgh during the 2008 crisis. Being at the centre of those events, and witnessing the impact and uncertainty that followed, only strengthened my personal resolve to help rebuild the bank. That sense of responsibility has stayed with me – and with many of my colleagues.

And we remain profoundly grateful for the support of the Scottish and UK taxpayers which rescued our bank and the wider sector as well as protecting millions of savers, homeowners and businesses.

How has the bank changed since 2008 – and what comes next?

The scale of change over the past 17 years has been profound and the lessons of the crisis must not be forgotten, even as we focus on the future. 

Following more than a decade of restructuring, NatWest Group is simpler, safer, and consistently profitable, with a clear focus on our customers. We’ve gone from being the largest bank in the world to doing 95% of our business in the UK. 

And it’s not just our bank that has changed. The UK’s banking sector is fundamentally stronger and better regulated, with a vastly different culture.

Today, our strategy is grounded in our customers – whether that is helping them buy a home, scale a business or invest for the future. 

We see real opportunities for disciplined growth across our bank as a trusted partner to more than 19 million people and businesses who bank with us across the UK – deepening existing relationships and building new ones by anticipating and meeting their changing needs.

Why is Scotland so important to NatWest Group?

I’m exceptionally proud of our history in Scotland, built on a deep-rooted heritage dating back nearly 300 years. Today, we remain at the heart of Scotland’s economy. We continue to serve customers in Scotland through the Royal Bank of Scotland, and we have  11,000 brilliant colleagues working across all parts of Scotland and across all areas of the bank – from tech and finance to strategy and customer service. With our head office based in Edinburgh, we’re one of Scotland’s largest private sector employers.

We also remain deeply committed to the communities we serve. That includes our Royal Bank of Scotland flying and mobile branches reaching 360 remote communities as well as our 45-year partnership with the Royal Highland Show and longstanding support for Scottish agriculture.

We’re also a leading supporter of key sectors that are vital to Scotland’s future – including tourism, energy and renewables, hospitality, education and tech. 

And we’re building new relationships all the time. Our Royal Bank of Scotland Accelerator Hubs in Edinburgh and Glasgow have supported nearly 1,000 entrepreneurs over the past decade, helping to attract investment and create jobs. We’re also a founding partner of Scottish EDGE, a funding competition aimed at identifying and supporting Scotland’s innovative, entrepreneurial talent. 

What opportunities can you see ahead for Scotland?

Scotland has enormous potential, and we have an important role to play in delivering this. The Royal Bank serves one in three Scottish businesses – helping start-ups to turn ideas into reality and established businesses to access new markets, invest and grow.

Scotland’s entrepreneurial ecosystem is thriving and week in week out, we’re helping Scottish businesses to scale, creating skilled jobs and supporting them to expand internationally, for example through the UK Export Academy. 

Infrastructure investment, whether in transport, broadband, or planning, will be essential to unlocking further growth and we continue to invest in important community projects.
As we look to the future, our focus remains clear: to be a trusted partner to our customers across Scotland and the UK. Ultimately, that is how we will succeed together.

This article is sponsored by NatWest Group. 

www.natwestgroup.com