NatWest Group has picked a new head of its high street branch network in the lender’s first significant appointment since ending its 17-year tenure in partial taxpayer ownership.
Sky News has learnt that Solange Chamberlain has been chosen as NatWest’s new retail bank chief executive, nearly six months after predecessor David Lindberg’s departure was announced.
Ms Chamberlain, who has worked for NatWest since 2019, will take up her new role on July 1, subject to regulatory approval.
A former investment banker, she will report to Paul Thwaite, the bank’s group chief executive.
Her previous roles at NatWest include chief operating officer of its commercial bank and more recently as group director of strategic development.
NatWest’s retail bank has more than 18 million customers across Britain, making it one of the industry’s four biggest retail banks alongside Barclays, HSBC and Lloyds Banking Group.
The recent acquisition of Sainsbury’s Bank added 1m accounts to NatWest’s retail customer base.
Responding to an enquiry from Sky News, NatWest confirmed the appointment on Monday afternoon.
Mr Thwaite said in a statement that Ms Chamberlain’s “knowledge of our customers, sharp strategic thinking, and track record of transformation delivery will help us to grow our retail business and succeed with customers”.
On Friday, the Treasury sold the last of its shareholding in NatWest, having bailed out the then Royal Bank of Scotland with £45.5bn of taxpayers’ money during the 2008 financial crisis.
On Monday, shares in the bank were trading at around 524.6p, giving it a market value of more than £42bn.
