RBS and NatWest Markets Announce NWM Management Team and Board appointments

Robert Begbie becomes NWM CEO; David King replaces Robert Horrocks as CFO

RBS and NatWest Markets announced today that Robert Begbie, interim NWM chief executive officer since 19 December 2019, has been appointed NWM chief executive officer.

Additionally, David King, former chief executive officer of MUFG Securities EMEA, has been appointed NWM chief financial officer, replacing the interim NWM chief financial officer Robert Horrocks.

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RBS also revealed that Donal Quaid, interim group treasurer since December 2019, has been appointed group treasurer.

Robert Begbie will continue to serve as a member of the NWM Board and as chair of the NWM N.V. Supervisory Board. David King will join the NWM Board as an executive director.

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It is anticipated that David King will take up his role during the course of summer 2020.

“We’re very pleased to make these appointments. When I took over as CEO, re-focusing NatWest Markets was one of my top priorities, and our work here is well underway to deliver against the strategy set out in February. These appointments will allow us to continue the transformation and refocusing process across NatWest Markets that we announced in February and establish a business that delivers even greater benefits for our bank and our customers,” Alison Rose, chief executive at RBS, said.

Adding extensive experience from MUFG: David King

“We would like to congratulate Robert Begbie on his appointment and thank Robert Horrocks for his dedication and commitment as interim CFO, during which NatWest Markets produced strong revenue delivery in Q1 2020. We would also like to welcome David King, who adds extensive experience and expertise from his time at MUFG and elsewhere”, she added.

Rose noted that NatWest Markets plays a crucial role within the Group, allowing RBS to provide its customers with the products and services they need to succeed.

“I am delighted to have the opportunity to lead NatWest Markets. NatWest Markets has an important role within the Group, connecting our customers with international wholesale and capital markets, and partnering to provide the risk management and financing solutions that help them realise their potential and thrive,” Begbie said. “We have made considerable progress in refocussing the business following the strategic announcement in February and we will continue to build upon this during the medium term.”

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