NatWest Group has announced that it will being the wealth arms of Coutts, Adam & Company, Holt’s, Drummonds, PCAIS, Premier Banking and Premier 24 together.
The wealth businesses will be under the management of NatWest CEO private banking, Peter Flavel.
The group believes this will help existing customers manage their finances more thoroughly and live financially better lives. In addition, the centre of excellence for asset management will be part of the new proposition and will be responsible across the group for driving AuM growth.
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.”
Furthermore, Dylan Williams will take on the role of head of affluent. This is to build capabilities for the existing premier Banking customer base.
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 ISAs, 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.”