NatWest Group has appointed Isabelle Girolami to lead its Commercial & Institutional (C&I) division from 1 January 2027 as part of a series of senior management changes.
Girolami (pictured), currently head of corporate & institutional banking (CIB), will become chief executive officer of C&I and join the group’s executive committee, subject to regulatory approval.
She will succeed Robert Begbie, who is moving into a new position as executive chair, Scotland and senior adviser to C&I.
Begbie will oversee Royal Bank of Scotland’s activities in Scotland as the bank prepares to mark its 300th anniversary in 2027.
CHANGES TO MARKETS LEADERSHIP
The reshuffle will also see Jonathan Peberdy, currently chief executive officer of NatWest Markets, take responsibility for CIB within the group’s ring-fenced bank.
Peberdy will be replaced at NatWest Markets by Walid Assaf, who is joining from Crédit Agricole CIB, where he led global markets trading.
Assaf has 30 years’ experience in trading, franchise development and risk management across Europe, the Americas and Asia. His appointment is also subject to regulatory approval.
The changes come as NatWest seeks to expand its commercial banking activities, which serve more than 1.5 million business customers across the UK.
The group says it banks one in five UK start-ups and is a leading lender in infrastructure, project finance and social housing. Earlier this year, it also established a dedicated venture banking business targeting high-growth companies and their investors.
Paul Thwaite, group chief executive officer of NatWest, says: “We have a leading Commercial & Institutional franchise that is delivering excellent outcomes for customers, making significant progress against its strategic ambitions and is well positioned for future growth.
“Isabelle, Jonathan and Walid’s appointments will build on the strong foundations already in place as we move into the next phase of growth for our customers, colleagues and shareholders.”
FOCUS ON BUSINESS GROWTH
Girolami says her priorities will include supporting businesses ranging from start-ups to multinational companies.
She says: “It will be a privilege to lead our Commercial & Institutional franchise, supporting customers and businesses of all sizes, from start-ups to large corporates and multinationals.
“As the UK’s biggest bank for business, we have an important role to play in supporting growth and I’m looking forward to building on the momentum and realising the significant opportunities ahead.”
Begbie, meanwhile, will concentrate on the bank’s Scottish operations in his new role.
He says: “I’m incredibly proud of what we’ve achieved in C&I over the past few years and the strong position the franchise is in today.
“By helping businesses access the capital, networks and expertise they need to grow, we can turn ambition into sustainable success and play an important role in supporting the long-term potential of the UK.
“As we approach the 300th anniversary of Royal Bank of Scotland, I’m looking forward to building on that proud history, supporting our customers’ ambitions and helping drive growth across Scotland.”
