The NatWest wealth businesses are Coutts, Adam & Company, Holt’s, Drummonds, PCAIS, Premier Banking and Premier 24.
NatWest is bringing the businesses together to combine Financial Planning, investment, banking, savings, and lending together in order to “help existing customers manage their finances more thoroughly”.
The new proposition will also include the centre of excellence for asset management and will be responsible for driving growth in assets under management.
Other staffing changes include Dylan Williams who will take on the role of Head of Affulent to build new capabilities for the existing customer base.
The building of new capabilities is something the bank hopes will help address the UK savings gap.
Mr Williams said: ““Ultimately as a purposeful business we want to do all we can for existing clients whilst also address the UK savings gap. To achieve both we must build a strategy that delivers not just on competitive day to day banking, but helps customers pay down household debt as soon as is practical and builds longer term investments through ISA’s, pensions and general investment account balances. In a post-Covid economy that has recently fallen into recession once again, we must do all we can to help not only rebuild the financial confidence of clients that may have been hit, but protect and boost their financial future wherever possible.”
Peter Flavel, CEO Private Banking, said: “Combining the collective expertise and resources of our Premier Banking and Private Banking teams will bring a more targeted focus on the wider NatWest Group’s affluent customer-base. There are benefits that Premier will bring to Private and vice versa. The new structure means we can focus on the evolving and changing financial requirements of customers through each stage of their lifetime. It means delivering excellent day to day banking, competitive and flexible savings and lending services together with building our investment AUMs through both our digital and face to face client propositions. We will put the asset management expertise of Coutts at the heart of all investment propositions and ensure each client is given the highest possible service.”