NatWest Group plc, formerly called RBS, announced that it will hold a tender process for the role of its external auditor in line with the requirements of the UK Corporate Governance Code.

NatWest Group’s current external auditor is Ernst & Young LLP, appointed in January 2016.

“The appointment followed a competitive tender in 2014 and shareholder approval at the AGM in 2016, and subsequent annual reappointment, most recently at the 2022 AGM,” said NatWest.

“NatWest Group plc is now announcing that it is planning to hold a tender process for the role of external auditor in line with the requirements of the UK Corporate Governance Code.

“The audit tender process will be overseen by the group audit committee and is expected to conclude later this year, with a resolution proposing the appointment of the selected firm being put to shareholders at the appropriate Annual General Meeting.”