David Lindberg, CEO of NatWest’s Retail Bank, has confirmed his decision to step down from his position in the upcoming year.
Lindberg has been in the role since September 2020, having joined NatWest from Australian lender Westpac. He also previously held positions at the Commonwealth Bank of Australia and ANZ.
Lindberg described the decision to leave the role as a difficult one but stated that now is the right time for him to make this move.
“I leave the business in the hope that I have helped transform it into a digital-led bank, combined with access to our fantastic colleagues when customers need it most,” he said.
“Though much has been accomplished, I believe we are now at the start line for what will be the most exciting transformation our business has ever gone through. Technology will continue to expand what we are able to deliver for our customers.
“Running the Retail bank has been one of my life’s greatest honours, and I will always be grateful to have had this opportunity. More than anything, being a part of this business is accepting a deep responsibility to the almost 18 million customers we serve. I know this ethic will continue to drive this business into the future.”
Paul Thwaite, Group CEO at NatWest Group, wished Lindberg well for the future and praised his leadership and commitment over the last four and a half years
“His focus on bringing together the best of technology and our colleague expertise has enabled us to grow our Retail business, while delivering for our customers,” Thwaite added.
“As a consequence, the Retail bank is now very well placed for the next phase of our strategy. David leaves with my best wishes and those of colleagues across the bank.”
This year has been a significant one for the bank. In June, NatWest Group announced an agreement to acquire the retail banking assets and liabilities of Sainsbury’s Bank.
Through this transaction, NatWest acquired around £2.5bn in gross customer assets, which includes £1.4bn in unsecured personal loans, £1.1bn in credit card balances, and approximately £2.6bn in customer deposits. The acquisition added approximately one million new customer accounts to NatWest’s portfolio.