Royal Bank of Scotland, part of NatWest Group, on Monday announced the appointment of Robert Begbie as Executive Chair, Scotland, and Senior Advisor, Commercial & Institutional, effective from January 1, 2027.

NatWest Group also announced that Isabelle Girolami, current Head of Corporate & Institutional Banking (CIB), will become Chief Executive Officer of Commercial & Institutional (C&I) and join the Group Executive Committee from January 1, 2027, subject to regulatory approval.

Further, NatWest Group said Jonathan Peberdy, current CEO of NatWest Markets, will become Head of CIB Ring-Fenced Bank (RFB). Peberdy will be succeeded by Walid Assaf from Crédit Agricole CIB as the new CEO of Markets, subject to regulatory approval.

“The newly created role (Executive Chair, Scotland) reflects the strategic importance of Scotland to the Group and comes as the Royal Bank of Scotland prepares to mark its 300th anniversary,” said NatWest Group.

“Robert will provide senior leadership for the bank in Scotland, helping bring together activity across the Group, deepen relationships with customers, government and stakeholders, and support the delivery of an ambitious Scotland strategy focused on growth, investment and long-term prosperity.

“Robert has spent almost five decades with the bank, having started his career at 16 in the Musselburgh Royal Bank of Scotland branch.

“He has led Commercial & Institutional through a period of strong performance and strategic progress, helping strengthen NatWest Group’s position as Scotland and the UK’s biggest bank for business. In his new role, he will continue to support the Commercial & Institutional franchise as Senior Advisor.

“As Executive Chair, Scotland, Robert will work with leaders across the Royal Bank of Scotland to support the delivery of its business plans and raise the profile of the bank with its 2 million retail and 110,000 business customers, stakeholders, and the wider public.”

Paul Thwaite, Group Chief Executive Officer, NatWest Group, said: “Scotland has always been central to the story of Royal Bank of Scotland and to NatWest Group today. As we approach the bank’s 300th anniversary, Robert’s appointment reflects both the importance of Scotland to our future and our ambition to play an active role in supporting growth across the country.

“Robert brings deep experience, strong relationships and a personal connection to Scotland that few people can match. He has made an outstanding contribution to the bank over many years, and I am pleased he will continue to play such an important role for NatWest Group, our customers and colleagues.”

Begbie said: “Scotland matters a great deal to me and to the bank. I started my career with Royal Bank of Scotland in the Musselburgh branch almost five decades ago, so it is a real privilege to take on this role as we look ahead to the bank’s 300th anniversary.

“Scotland has enormous ambition and opportunity. Whether it is supporting entrepreneurs and SMEs, helping mid-market firms grow, backing investment in infrastructure and energy, or strengthening communities, Royal Bank of Scotland has an important role to play.

“I am looking forward to working with colleagues, customers, government and partners across Scotland to build on our long-standing contribution and support the next chapter of growth.”

NatWest Group said: “These appointments will position the business for its next phase of growth, building on a period of strong performance from the UK’s biggest bank for business. NatWest supports over 1.5 million business customers and is one of the UK’s leading bank for startups, banking one in five start-ups (20%).

“It is the number one lender to infrastructure and project finance, the number one lender for social housing in the UK, and earlier this year launched a dedicated venture banking business to support the UK’s most ambitious high growth companies and the investors backing them.”

CEO Thwaite said: “We have a leading Commercial & Institutional franchise that is delivering excellent outcomes for customers, making significant progress against its strategic ambitions and is well positioned for future growth. Isabelle, Jonathan and Walid’s appointments will build on the strong foundations already in place as we move into the next phase of growth for our customers, colleagues and shareholders.”

Girolami said:  “It will be a privilege to lead our Commercial & Institutional franchise, supporting customers and businesses of all sizes, from start-ups to large corporates and multinationals. As the UK’s biggest bank for business, we have an important role to play in supporting growth and I’m looking forward to building on the momentum and realising the significant opportunities ahead.”

Begbie said:  “I’m incredibly proud of what we’ve achieved in C&I over the past few years and the strong position the franchise is in today. By helping businesses access the capital, networks and expertise they need to grow, we can turn ambition into sustainable success and play an important role in supporting the long-term potential of the UK.

“As we approach the 300th anniversary of Royal Bank of Scotland, I’m looking forward to building on that proud history, supporting our customers’ ambitions and helping drive growth across Scotland.”

Girolami joined NatWest Group in 2025. Prior to joining NatWest, Girolami was Chief Executive Officer of LCH Ltd and previously held a number of senior international leadership positions at Crédit Agricole CIB, Standard Chartered and BNP Paribas.