New NatWest boss shifts to a customer-centric approach |
Paul Thwaite, the new chief executive of NatWest, has moved away from the "purpose-led" strategy of his predecessor, Dame Alison Rose, following the controversy surrounding the closure of Reform UK leader Nigel Farage's Coutts account. The incident raised questions about freedom of speech and led to Rose's departure. In the bank's latest annual report, the term "purpose" appeared only 125 times, a drop from 262 instances in the previous report. In an interview with the Times, Thwaite stressed a shift towards a customer-centric approach, adding that while the bank is refocusing, it remains committed to ESG policies, saying: "We're still one of the biggest banks for sustainable finance." |
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