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NatWest's tumultuous journey post-bailout saw leadership changes and significant financial losses, culminating in a near-£10 billion loss for taxpayers. Despite efforts to re-privatize and refocus on the UK market, public anger and operational challenges persisted, leading to the eventual ousting of CEO Alison Rose in 2023. The government’s gradual sell-down of shares began in 2015, but the long-term impact of the financial crisis remains evident.
NatWest's chief executive, Paul Thwaite, is set to receive a pay package of up to £7.7 million, pending shareholder approval at the upcoming AGM. This represents a 43% increase, potentially rising to £9.5 million if the bank's shares increase by 50%. The bank is also on track for full private ownership by summer, with the government’s stake reduced to 2.99% after a £46 billion bailout in 2008.
The gender pay gap at Lloyds Banking Group and Nationwide widened last year, with Lloyds' median gap rising to 35.5% and Nationwide's to 29.2%. Despite a record low overall UK pay gap of 8.4%, men still out-earn women at 78% of large employers, highlighting ongoing disparities in the financial sector.
Alison Rose
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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