Baroness Noakes DBE to step down as non-executive director at NatWest Group

Baroness Noakes

NatWest Group has announced that Baroness Noakes DBE will step down as a non-executive director at close of business today.

Morten Friis will succeed Baroness Noakes as chairman of the Group Board Risk Committee with effect from 1 August 2020.

A qualified chartered accountant, Baroness Noakes previously headed KPMG’s European and International Government practices and has been President of the Institute of Chartered Accountants in England and Wales.

She was appointed to the House of Lords in 2000 and has served on the Conservative front bench in various roles including as shadow treasury minister between 2003 and May 2010. Baroness Noakes previously held non-executive roles on the Court of the Bank of England, Hanson, ICI, Severn Trent, Carpetright, John Laing, SThree and Ofcom.

Howard Davies, chairman of NatWest Group plc, said: “I would like to thank Sheila for her outstanding contribution to the Board since joining as a non-executive director in 2011.  She has expertly chaired the Group Board Risk Committee since 2014, successfully navigating some challenging times along the way. She has also served as a diligent and valued member of the Group Audit Committee and Group Nominations and Governance Committee. She leaves with our very best wishes for the future.  

“I am delighted that Morten is assuming the role of Chairman of the Group Board Risk Committee. Morten has been a member of the Committee since 2014 and, with his extensive background in banking and risk, he is ideally placed to take the Committee’s work forward.”

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