By Laura McGuire
Natwest’s board is reportedly gearing up to name Paul Thwaite, its current interim chief executive, as the permanent head of the taxpayer backed bank.
Natwest has been searching for a successor since the summer after former boss Alison Rose outed herself as the source of a BBC story into the finances of Nigel Farage, who had claimed that Natwest-owned Coutts had ‘debanked’ him over his political views.
This evening, Sky News said directors at the bank will discuss tomorrow proposals to announce Thwaite as its new chief executive, alongside its annual results on Friday.
It was cautioned by the outlet that “a final decision had yet to be taken and that other candidates had also been discussed by NatWest’s board as part of the appointment process”.
Before stepping in as interim, Thwaite headed up its commercial banking arm.
Natwest told City A.M it does “not comment on speculation”.
It comes as the firm is expected to post its most profitable year since it was bailed out back in 2008, as banks have been aided by higher interest rates.
However, Natwest is poised to pay a slightly smaller bonus pool of £350m for 2023, down from £367m it paid out to staff in 2022.
