NatWest boss continues leadership overhaul as operating chief leaves | Money News

The chief executive of NatWest Group is continuing his overhaul of the bank’s leadership months after it returned to full private sector ownership.

Sky News has learnt that Paul Thwaite, who took over as the lender’s boss two years ago, has created a new executive role aimed at sharpening its focus on customer service.

James Holian, who has been at the company for over 15 years, has been installed as chief customer and operations officer, according to a memo circulated on Friday and seen by Sky News.

Mr Holian’s role will absorb many of the responsibilities of NatWest’s group chief operating officer role, which was held by Jen Tippin.

Ms Tippin, who was previously in charge of human resources and technology at NatWest, will leave the company.

Money latest: Cost of a pint across UK revealed

NatWest’s profitability has surged under Mr Thwaite, enabling the government to sell the last of its stake this year – albeit at an overall loss of about £10bn on its £45.5bn rescue in 2008.

Britain’s banking landscape has also shifted significantly in recent years, with the growth of digital banks such as Monzo and Starling drawing millions of customers away from established high street lenders.

Mr Thwaite is also keen to overhaul NatWest’s use of technology, with artificial intelligence set to exert a profound influence on banks’ interactions with customers.

In July, the group announced a five-year partnership with Accenture and Amazon Web Services to re-examine its storage of customer data.

Read more from Sky News:
Trump reveals fresh round of trade tariffs

Scott Marcar, another senior executive at NatWest, will – along with its so-called Digital X team – focus exclusively on accelerating its technology, AI and data capabilities.

NatWest’s fraud and financial crime teams will instead be moved under Mr Holian’s remit.

A NatWest spokesperson said: “We thank Jen for her significant contribution to the group over the last five years. She has been instrumental in helping to drive our transformation and we wish her every success in the future.”

Source link